Cañariaco, Peru / Copper and gold
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Cañariaco is a large-scale copper project in northern Peru which includes the Cañariaco Norte deposit, the Cañariaco Sur deposit and the Quebrada Verde prospect.
Early stage
Copper and gold
Alta Copper
Peru
Royalty rate and type
0.5% NSR
Balance sheet classification
Royalty intangible
The Group has a 0.5% NSR royalty over the project which is majority owned by TSX-listed, Alta Copper Corp. (Alta). A Preliminary Economic Assessment (PEA) was completed on Cañariaco Norte which estimated a post-tax NPV of over $1bn (at a copper price of $3.50/lb) and a 2022 mineral resource totalling 9.3Blbs of contained copper in the Measured and Indicated category, plus 1.4Blbs of contained copper in the Inferred category. A resource estimate was also completed for Cañariaco Sur that estimated 2.2Blbs of contained copper in the Inferred category.
Alta announced in 2025 that it has entered into a binding agreement with Fortescue Ltd. (Fortescue) under which Fortescue will acquire the remaining 64% of Alta’s issued and outstanding shares not already owned by Fortescue.