Alta Copper Acquisition and Cañariaco Copper Project Development

planned

Fortescue Ltd entered a binding agreement to acquire the remaining 64% of Alta Copper Corp, which owns the Cañariaco Copper Project in northern Peru. The project has a reported mineral resource of 1.1 billion tonnes at 0.42% copper equivalent (measured & indicated) and 0.9 billion tonnes at 0.29% copper equivalent (inferred). The acquisition is expected to close in the March quarter of 2026, funded from Fortescue's existing cash reserves.