Copper Mountain Mining acquire Australian Altona Mining to create medium-sized miners

Mining News -The two mining companies will merge their operations after transaction, total amount will be approximately US$71 million, and the annual copper output will be approximately 73,000 tons.

It will be transformed into a medium-sized copper ore miner. According to the agreement, each share of Altona Mining will be converted into shares of 0.0974 Cooper Mountain Mining. Altona’s assets include cash flow of US$30 million and mining project development rights in Queensland, Australia, and land use rights in potential areas of large minerals.

The main assets of Cooper Mountain Mining in Canada include a 75% stake in the open-pit copper mine in British Columbia, and the mine is expected to produce 34,000 to 38,500 tons of copper in 2018.