"Scramble for Mines" under the continuous record-high copper price! Fortescue Pays Premium to Acquire a Canadian Company, Increasing Bet on Copper Cycle.

According to the Zhixin Finance and Economics APP, Australian large mining group Fortescue announced on Monday that it will acquire the remaining 64% stake in the Canadian copper mining company Alta Copper. This transaction means that the total equity value of this Toronto-listed copper mining company is approximately 139 million Canadian dollars (101 million US dollars). This latest acquisition in the copper mining industry highlights that top mining companies are more inclined to "pre-position" copper resources through mergers and acquisitions as copper futures prices repeatedly hit historical highs. When the commodity market begins to price in "scarcity," top mining companies often prefer to acquire/control high-quality resource projects to secure future supply and growth.