Fortescue to acquire Alta Copper: What it means for investors

Fortescue has announced a binding agreement to acquire the rest of Alta Copper, strengthening its copper portfolio in Latin America.

Laura Stewart

Author bio Laura Stewart is a Finance Editor at The Motley Fool, where she covers Australian and international equity markets. She joined the company in 2022, following a career transition from legal advisory work in Southeast Asia into the investment industry. Prior to her current editorial role, Laura spent three years as an Equity Analyst and Writer, producing investment research across the ASX, NYSE, and NASDAQ. Her coverage included small-cap growth companies, thematic investment ideas, and high-quality U.S.-listed businesses. Laura holds a Master of Applied Finance and brings additional expertise in accounting, taxation, and estate and wealth planning from her postgraduate studies. She also has a background in law and communications, which supports her analytical and reporting work in financial markets. Outside of work, she enjoys spending time in the Adelaide Hills with her flock of sheep. Education Laura holds a Bachelor of Laws, a Bachelor of Communication (Journalism), and a Bachelor of Commerce with majors in Accounting and Corporate Finance. In 2025, she completed a Master of Applied Finance at the University of Adelaide, receiving postgraduate awards in Accounting Concepts & Methods, Ethical Principles in Accounting & Finance, Real Estate Valuation & Investment, and Tax, Estate & Wealth Planning. Social media LinkedIn FYI – I am taking a break from social media at the moment, so this account isn’t active at the moment, but I will let you know when I rejoin. Favorite investment quote "Compound interest is the eighth wonder of the world. He who understands it, earns it... he who doesn't... pays it." — Albert Einstein

Published December 15, 2025 9:25 am AEDT

The Fortescue Ltd (ASX: FMG) share price is in focus after announcing its plan to acquire the remaining 64% of Alta Copper Corp for C$139 million, offering shareholders a 50% premium to Alta Copper's recent 30-day VWAP. This strategic move expands Fortescue's copper portfolio with the large-scale Cañariaco Project in Peru.

Two hands being shaken symbolising a deal. — Image source: Getty Images

What did Fortescue report?

Binding agreement to acquire 64% of Alta Copper Corp not already owned
Cash offer of C$1.40 per Alta Copper share, representing a 50% premium to 30-day VWAP
Total Alta Copper equity value of C$139 million implied
Alta Copper Board and 12.5% of shareholders have entered support agreements
Cañariaco Project mineral resource: 1.1 billion tonnes at 0.42% copper equivalent (Measured & Indicated)

What else do investors need to know?

Fortescue's proposed acquisition aligns with its strategy to expand its presence in critical minerals, notably copper, supporting the company's long-term diversification. The deal will be completed via a Canadian Plan of Arrangement, needing approval from Alta Copper shareholders and regulatory authorities, with closure expected in Q1 2026.

Alta Copper's Cañariaco Project in Peru includes substantial copper deposits, and a 2024 preliminary economic assessment indicated strong potential for a long-life operation. Fortescue is leveraging its Latin American experience and technical capability to advance the project once the transaction completes.

What's next for Fortescue?

Looking ahead, Fortescue plans to carry out additional exploration and drilling at the Cañariaco Project to update mineral resources in line with the JORC Code. The company will use its established approach to community engagement and local partnerships, aiming for sustainable and responsible resource development.

Completion of the transaction would strengthen Fortescue's copper growth options, with the company targeting to bring its reporting in line with Australian standards within three years.

Fortescue share price snapshot

Over the past 12 months, Fortescue shares have risen 23%, outperforming the S&P/ASX 200 Index (ASX: XJO) which has increased 5% over the same period.

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