Sandfire Resources
(ASX:SFR) has increased its ownership in one of the world’s highest-grade underdeveloped copper projects, the Black Butte Copper Project in central Montana, USA.
It comes as the Australian copper-gold producer raised its stake in Northern American listed, Tintina Resources (TSX-V:TAU) to 78.1 per cent (up from 61.2 per cent).
Sandfire made the $7.1 million purchase, which takes its investment in the company to $31 million.
As a result, the company says it now holds almost 80 per cent of a high grade-copper resource, which has almost 600,000 tonnes of copper at a very attractive cost.
Sandfire Resources
(ASX:SFR) are trading 3.7 per cent lower to $5.73
