Toronto-based copper-focused mineral explora-tion company Alto Verde Copper has announced the finalisation of its acquisition of three exploration projects from Minera Freeport-McMo-Ran South America Limitada in Chile.
“The acquisition of the properties more commonly known as Tres Ma-rías, Pitbull and Zenaida who's concessions cover an area of 16,250 hectares of prospective ground, marks the official launch of the Com-pany's strategy to leverage its seasoned leadership team's experi-ence and relationships within the industry to build a mid-tier copper producing company over the course of the next several years,” the Canadian company said in a statement.
The three assets are located in the in the Central Volcanic Zone of the Chilean Copper Belt. The area is home to 28 percent of the world’s total copper production, according to data from Alto Verde Copper.