Fortescue Completes $139M Acquisition of Alta Copper

SEATTLE (Scrap Monster): Fortescue has finalized the acquisition of all issued and outstanding shares of Alta Copper through its wholly owned subsidiary Nascent Exploration. The deal was completed under a Canadian plan of arrangement, enabling Fortescue to obtain full ownership of Alta Copper shares not previously held by the company.

Under the agreement, Alta Copper shareholders received a cash payment of C$1.40 per share, representing a total equity value of approximately C$139 million ($103 million). The acquisition follows a binding agreement signed in December 2025, under which Fortescue agreed to purchase the remaining 64% stake in Alta Copper.

With the transaction complete, Fortescue now holds 100% ownership of the Cañariaco Copper Project located in northern Peru. The project spans roughly 91 square kilometres and hosts several mineral prospects, including the Cañariaco Norte, Cañariaco Sur, and Quebrada Verde deposits.

Fortescue said the acquisition strengthens its copper portfolio and expands its presence in Latin America. The company plans to prioritise technical assessments, community engagement, and development studies to guide future project decisions while supporting its broader diversification strategy.