Copper Mountain Mining Corp. (CMMC) plans to acquire Altona in a transaction valued at approximately A$93 million. Altona’s key asset is the undeveloped open-pit Cloncurry copper project in Queensland, Australia, which has a measured and indicated mineral resource containing more than 950,000 metric tons (mt) of copper and an inferred resource of 720,000 mt of copper. There is potential to add resources at depth and along strike in each of the deposits, and through exploration at numerous prospective targets within Altona’s approximate 3,970 km2 land package.
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