On December 14, 2025, Alta Copper announced that it had entered into a definitive arrangement agreement with a subsidiary of Fortescue Ltd., pursuant to which Fortescue will acquire the remaining 66% of Alta Copper’s common shares not already owned by Fortescue for cash consideration of $1.40 per share. This Consideration implies a total equity value of approximately $139 million on a fully diluted basis and represents a 50% premium to Alta Copper’s volume weighted average trading price over the prior 30 trading days.
Alta Copper’s core asset is the Cañariaco project, a large-scale porphyry copper-gold development project, located in Peru. Cañariaco is expected to produce over 280 million pounds of copper, more than 50,000 ounces of gold, and in excess of 1 million ounces of silver over a 27 year mine life, marking its position as one of the largest copper deposits in the Americas not held by a major.
Fortescue made an initial strategic investment in Alta Copper in January 2020, establishing a 9.7% ownership position. Over the subsequent five and a half years, Fortescue increased its ownership to 34% of Alta Copper’s fully diluted shares outstanding.
Fort Capital Partners provided the Special Committee of the Board of Alta Copper an independent formal Valuation and Fairness Opinion in connection with the transaction.
Read the full press release here: https://altacopper.com/news-releases/news-releases/2025/fortescue-to-acquire-alta-copper-for-c1-40-per-share/