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World Copper signs agreement to acquire Cardero Resource Corp

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Global Mining Review,

World Copper Ltd has entered into a definitive agreement with Cardero Resource Corp. and 1302172 B.C. Ltd, whereby World Copper and Cardero have agreed to combine their respective businesses by way of a plan of arrangement.

This agreement enhances World Copper’s portfolio of copper mineral projects, through the acquisition of Cardero’s Zonia copper oxide project located in central Arizona.

Nolan Peterson, World Copper’s CEO, comments:

“The signing of the definitive agreement with Cardero is another milestone for World Copper and one that will bring significant value to our shareholders. Our team sees upside potential at Zonia that has, to this point been unrealised, including a low-cost development and permitting path. We will apply the same knowledge and expertise to Zonia, as we have to our Escalones property, and work to advance and de-risk the project going forward.”

1302172 B.C. Ltd is a wholly-owned subsidiary of World Copper.

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US mining news Copper mining news North American mining news