Mining Firm Altus Strategies Sells Moroccan Copper Exploration Subsidiary to Eastinco
The mining company Altus Strategies has concluded a sale agreement with Eastinco, listed on the London market, to sell Aterian Resources Ltd, its subsidiary active in Morocco.
The operation was announced on Monday by the company’s management. In Morocco, Aterian is present in 15 exploration projects mainly of copper and silver.
For its part, the new acquirer, Eastinco, is currently developing a portfolio of tantalum exploration and development projects in the Republic of Rwanda.
However, the operation remains subject to certain conditions precedent, including the admission to trading of the entire issued share capital of Eastinco on the FCA’s official list and to trading on the London Stock Exchange’s main market for listed securities.
According to Steven Poulton, CEO of Altus, "the enlarged entity will have a solid and unique portfolio of strategic metal exploration and development projects in Morocco and Rwanda".
He added that this is a key step in becoming a leading strategic metals exploration and development company in Africa.
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