https://www.engineeringnews.co.za

Shareholders approve Altona/Copper Mountain deal

27th March 2018

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – The shareholders of ASX-listed Altona Mining and TSX-listed Copper Mountain Mining Corporation have approved a merger between the two companies.

Copper Mountain in November of last year made a A$93-million play for Altona, with the combination of the two companies resulting in a mid-sized copper company, with a production profile of about 73 000 t/y of copper.

Copper Mountain’s principal asset is the 75%-owned large openpit Copper Mountain mine, near Princeton, in southern British Columbia, which is forecast to produce 34 000 t to 38 500 t of copper this year, while Altona holds the undeveloped Cloncurry copper project, in Queensland.

Altona would now seek orders from the Australian Federal Court to approve the scheme of arrangement at a hearing scheduled for April. The transaction is set to close by mid-April, subject to regulatory approvals.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Aluminium Federation of South Africa
Aluminium Federation of South Africa

The Aluminium Federation of South Africa (AFSA), is the voice of the South African aluminium industry.

VISIT SHOWROOM 
WearCheck
WearCheck

Leading condition monitoring specialists, WearCheck, help boost machinery lifespan and reduce catastrophic component failure through the scientific...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.054 0.879s - 140pq - 2rq
Subscribe Now