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Latin Resources hits it big with First Quantum Minerals partnership


Latin Resources (ASX:LRS) has signed a memorandum of understanding with Minera Antares Perú S.A.C. (Antares), the Peruvian subsidiary of First Quantum Minerals (TSE:FM) which has a Market Cap. of US$8 billion.

This is likely to add significant valuation potential to Latin Resources as well as provide ongoing price catalysts over the next 12 months.

Under the agreement, the two companies will collaborate together exclusively for 12 months to discover mineral deposits worthy of further exploration and development within 65,730 hectares of PLR’s 100% owned mining concessions in Southern Peru.

This will focus on targets prospective for significant porphyry copper and IOCG deposits.

First Quantum is a company with seven operating mines and five development projects globally.

The identification of “Target Properties” within the overall concession package will be further explored and developed through the execution of additional agreements to be negotiated.

Antares will have exclusive rights to negotiate over any declared target properties for 6 months after these are identified.

Over 560,000 tonnes per annum copper production and 125 billion pounds of copper in published resources and reserves within 150 kilometres of the concession package with excellent infrastructure access including sealed highways railway and port facilities close by.

“We are excited to be starting this collaborative exploration initiative with First Quantum, one of the world’s premier copper producers, on our extensive concession package in Southern Peru,” managing director Chris Gale said.

“We look forward to successfully defining targets together that can evolve into valuable projects for both companies and their shareholders.”

First Quantum Minerals regional exploration manager – Latin America Markku Lappalainen said: 

“We are pleased to be able to have exclusive access to this large, contiguous package of prospective concessions in Southern Peru, and look forward to working with Latin in the discovery process.”


The exploration partnership with global copper major company, First Quantum demonstrates the inherent value of Latin Resources’ mining concessions in Southern Peru. 

It also places a US$8 billion market cap. with seven operating mines and five development projects globally squarely on the company’s side of the ring.

This is likely to add significant valuation potential to Latin Resources as well as provide ongoing price catalysts over the next 12 months.

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

Quick facts: Latin Resources Ltd

Price: 0.007 AUD

Market: ASX
Market Cap: $3.19 m

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