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Aldebaran on its way to earning 80% of Argentina copper project

16th August 2023

By: Creamer Media Reporter

     

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TSX-V-listed Aldebaran Resources has officially earned a 60% interest in the Altar project and is on its way to earning an eventual 80% interest in the Argentina copper project.

The company has completed the $30-million in expenditures required to earn a 60% interest pursuant to its joint venture agreement with South Africa-headquartered Sibanye-Stillwater.

Further, the company has notified Sibanye-Stillwater that it intends to proceed with the second option to spend $25-million over a three-year period to acquire an additional 20% interest in the Altar project.

“When we picked up this project in 2018, we understood that it had immense potential; however, it has exceeded our expectations on several fronts. Altar represents one of the largest undeveloped copper projects in the world, and we are excited to continue to unlock its potential to help supply necessary copper resources to fuel the worldwide green energy revolution,” comments CEO John Black.

Upon completion of the second option, Sibanye-Stillwater will retain a 20% interest in Altar.

Edited by Creamer Media Reporter

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