Archived article
Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.
Ecora Resources PLC - London-based royalty company focused on supporting the supply of commodities - Agrees to acquire a 0.25% net smelter return royalty over all metal production from the open pit of the Vizcachitas copper project in Chile, owned by Los Andes Copper Ltd, for a total cash consideration of $20 million. The owner is guiding first production from the project in 2029, with the royalty rate stepping up in the event commercial production does not occur prior to June 30, 2030. Average annual copper production in the first eight years is estimated at 183,000 tonnes and 153,000 tonnes over the life of the mine. Project has a 26-year reserve-based mine life.
‘The energy transition is expected to drive copper demand to new levels and we are delighted to add Vizcachitas to our growing portfolio of copper royalties. This transaction further complements our copper royalty exposure which is underpinned by a development pipeline poised to deliver continued growth until the middle of the next decade,’ says Chief Executive Marc Bishop Lafleche.
Current stock price: 119.11 pence, up 0.9% at midday in London
12-month change: down 23%
Copyright 2023 Alliance News Ltd. All Rights Reserved.