Ecora Royalties PLC (LSE:ECOR, TSX:ECOR, OTCQX:ECRAF, FRA:HGR) has noted the completion of Fortescue's acquisition of Alta Copper Corp, the owner of the Cañariaco copper project in northern Peru.
Fortescue, the Australian mining group, acquired Alta Copper through its wholly-owned subsidiary Nascent Exploration.
Ecora holds a 0.5% net smelter return royalty on the Cañariaco project, which a 2024 preliminary economic assessment estimated could produce an average of 158,000 tonnes of copper annually in its first decade of operation.