Fortescue to acquire remaining 64.3% stake in Alta Copper for CAD$89m.

Fortescue, a global metal mining company, agreed to acquire remaining 64.3% stake in Alta Copper, a mineral exploration company focused on developing the Cañariaco copper project in Peru, for CAD$89m. “This all-cash premium offer from Fortescue is an excellent outcome for our shareholders given the significant costs and risk associated with advancing the Cañariaco project. We believe this represents the right time to deliver a substantial non-dilutive success to Alta Copper Shareholders and is consistent with our philosophy of delivering returns to shareholders at the appropriate point in the development plan of the Cañariaco project,” Giulio T. Bonifacio, Alta Copper President and CEO.