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Fortescue to Take Full Control of US$101 Million Copper Miner Alta

Provided by Dow Jones Dec 14, 2025, 10:53:00 PM

By Stuart Condie

SYDNEY--Fortescue will acquire the remaining 64% of Alta Copper in a deal valuing the Canada-listed miner at about US$101 million.

Australia's Fortescue on Monday said it has agreed to pay C$1.40 in cash, equivalent to about US$1.02, for each of the Alta shares it does not already own. The offer, which was unanimously backed by Alta's directors, implied a total equity value of C$139 million.

Fortescue said that the move for Alta, which owns the Canariaco Copper Project in Northern Peru, is consistent with its critical minerals strategy.

The Australian miner expects to close the transaction in the first quarter of 2026.

Write to Stuart Condie at stuart.condie@wsj.com

(END) Dow Jones Newswires

December 14, 2025 17:53 ET (22:53 GMT)

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