Fortescue Unit Finalizes Acquisition of Alta Copper

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Fortescue's (ASX:FMG) wholly owned subsidiary, Nascent Exploration, has acquired all remaining shares of Alta Copper through a Canadian plan of arrangement, paying CA$1.40 per share and valuing the deal at around CA$139 million, according to a Tuesday Australian bourse filing.

The company now fully owns the 91 square kilometer Cafiariaco Copper Project in northern Peru and is well positioned to advance its development, the filing added.

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