Alta Copper Corp. Shares Holders Approve Fortescue Acquisition

Alta Copper Corp. (TSX: ATCU, OTCQX: ATCUF, BVL: ATCU), a Canadian exploration and mining services company headquartered in Vancouver, has confirmed that its shareholders and optionholders have voted in favour of the proposed acquisition by Fortescue Ltd. The vote, held at a special meeting on 26 January 2026, authorised the arrangement whereby Nascent Exploration Pty Ltd— a wholly‑owned subsidiary of Fortescue—will acquire all outstanding common shares of Alta Copper not already owned by the acquirer.

Key Elements of the Transaction

  • Acquirer – Nascent Exploration Pty Ltd, a subsidiary of the Australian mining giant Fortescue Ltd.
  • Structure – The acquisition will be effected through a court‑approved plan of arrangement under the Business Corporations Act of British Columbia, following the terms of the arrangement agreement dated 13 December 2025.
  • Shareholder Approval – The arrangement resolution received the required majority thresholds from both shareholders and optionholders.
  • Court Confirmation – Fortescue will seek final approval from the Supreme Court of British Columbia in a hearing scheduled for 30 January 2026.

Strategic Implications

Fortescue currently holds roughly 64 % of Alta Copper’s issued share capital. The deal will bring the company fully under Fortescue’s ownership, granting the Australian miner control of Alta Copper’s portfolio of exploration assets, most notably the Cañariaco Copper Project in northern Peru. The acquisition is anticipated to unlock value through the integration of Alta Copper’s copper, gold, and silver exploration capabilities with Fortescue’s global operations.

Financial Context

Alta Copper’s share price closed at C$1.27 on 22 January 2026, following a 52‑week high of C$1.39 on 15 January 2026 and a low of C$0.37 on 10 February 2025. The company’s market capitalization stands at approximately CAD 119.65 million. Despite a negative price‑to‑earnings ratio of –87.23, the acquisition offers a compelling premium for shareholders, reflecting the strategic value of the underlying assets.

Conclusion

The approval of the arrangement resolution marks a pivotal step toward the completion of Fortescue’s acquisition of Alta Copper. Once final court approval is obtained, Fortescue will consolidate control of Alta Copper’s exploration portfolio, positioning itself to accelerate development of high‑potential copper projects in Peru and beyond.