Alta Copper Awaits Decision on Fortescue Transaction

Alta Copper Corp. has announced that Fortescue Ltd's subsidiary, Nascent Exploration Pty Ltd, has received communication from the Director of Investments under the Investment Canada Act (ICA). The notification indicates that the Minister of Innovation, Science and Economic Development requires more time to consider a national security review for the proposed acquisition of Alta Copper by Fortescue. The review pertains to the plan where Fortescue aims to acquire all outstanding shares of Alta Copper.

Fortescue and its subsidiary are collaborating with the Director to address any inquiries. The Minister has until March 5, 2026, to decide on the national security review. If approved, the transaction could conclude by March 2026, provided all conditions are met.