- Fortescue Metals Group exercises pre-emptive right to maintain stake in Alta Copper
- Fortescue buys $196,532 worth of shares in private placement
- Fortescue’s stake in Alta Copper remains slightly above 25%
- Alta Copper raises $766,645 through private placement
- Funds will be used for working capital, community initiatives, and engineering work
- Alta is developing the Canariaco copper project in Peru
Fortescue Metals Group has exercised its pre-emptive right to maintain its stake in Alta Copper by purchasing $196,532 worth of shares in a private placement. This keeps Fortescue’s stake in the Canadian company slightly above 25%. Alta Copper recently raised $766,645 through a private placement, with the funds being allocated for working capital, community initiatives, and engineering work. Alta is currently focused on developing the Canariaco copper project in Peru, which is estimated to be one of the largest copper deposits in the Americas not owned by a major mining company.
