Fortescue to buy remaining 64% of Alta Copper

Fortescue to buy remaining 64% of Alta Copper in strategic acquisition

Fortescue has announced a binding agreement to acquire the remaining 64% of Alta Copper’s shares.
The all-cash offer values Alta Copper at C$139m ($100.92m), representing a 50% premium over the 30-day VWAP.
Completion is expected in the March 2026 quarter via a Canadian plan of arrangement.

Fortescue currently owns 35.7% of Alta Copper and will acquire the remaining shares through its subsidiary Nascent Exploration.
Alta Copper shareholders will receive C$1.40 per share under the agreement.
Alta Copper directors and major shareholders have unanimously recommended approval of the transaction.

Fortescue to buy remaining 64% of Alta Copper with Cañariaco copper project focus

The acquisition secures full control of the Cañariaco copper project in northern Peru, a key porphyry corridor.
Cañariaco spans 91km², including the Norte, Sur, and Quebrada Verde deposits, with significant exploration potential.
Measured and indicated resources total 1.1 billion tonnes at 0.42% copper equivalent, with inferred resources at 900 million tonnes at 0.29%.

The deal requires customary conditions, regulatory approvals, and court and securityholder consent.
Alta Copper CEO Giulio T. Bonifacio emphasized that the transaction delivers substantial non-dilutive returns to shareholders.
Fortescue’s acquisition reflects strategic expansion in high-potential copper assets amid strong market demand.

SuperMetalPrice Commentary:

Fortescue to buy remaining 64% of Alta Copper strengthens its portfolio in Peru’s copper sector.
Full ownership of Cañariaco positions Fortescue for long-term production growth and leverage in global copper markets.
Investors should monitor project development timelines and regulatory approvals to gauge near-term impact on supply and pricing.