Australia’s Peak Minerals has signed a deal to take over local miner CU2 WA, adding further copper projects to its portfolio. Local media outlets estimate the deal is worth some A$7.5 million (US$6 million).
Wayne Loxton, the managing director of Peak Minerals, said in a state-ment the company is “excited about the opportunity the acquisition of CU2 presents and further consolidating our existing tenure in what we view as an exciting new and developing copper province. Development of explo-ration field programs are at an advanced stage and we plan to be on the ground in the coming weeks.”
Peak Minerals says it is a mineral exploration and development company with a portfolio of Australian copper and gold assets. These include four copper projects in Western Australia, and three gold projects in the coun-try’s New South Wales state, according to data released by the business.