ALTA COPPER - FORTESCUE GREEN ENERGY PLAN
Wyloo Metals, the privately held resources unit of Australia iron ore baron Andrew Forrest, says it plans to build a battery materials plant in northern Ontario that may cost around $900 million.
Wyloo to build $900M battery material plant in Sudbury - The Northern Miner
Andrew Forrest is the well known founder of Fortescue Metals and is a champion for green energy. His private company Wyloo Metals purchased Noront Resources nickel project at a 358% premium or $617 million in 2021.
Noront Reaches Agreement With Wyloo Metals to Acquire
Andrew Forrest also owns Nascent Exploration Pty Ltd. ("Nascent"), a wholly owned subsidiary of Fortescue Ltd which is focused on copper. Copper is the must have metal for everything electric and the green energy transition.
Nascent Exploration has purchased 31% of Alta Copper Corp. to develop their large copper porphyry called Canariaco. The Canariaco project has over 16 billion pounds of copper and is held 100% by Alta Copper.
The objective for Fortescue and their private companies is to secure and develop the metals necessary for a greener planet.
Wyloo Metals acquiring Noront allowed Fortescue to secure the nickel which will be used in their battery materials plant.
It is only a matter of time before Nascent Exploration secures the copper from Alta Copper allowing Fortescue to achieve their goal of becoming a copper developer.
With Alta Copper’s new PEA completed and Fortescue’s guidance, another green energy transaction is on the horizon.
NASCENT EXPLORATION PTY LTD. ANNOUNCES INCREASED INVESTMENT IN ALTA COPPER CORP.
Alta Copper Announces Robust Economics for Caariaco with US$2.3 billion After-Tax NPV and 24% IRR - Junior Mining Network