First Quantum Minerals Ltd said on Tuesday it has agreed to acquire Lumina Copper Corp for about C$470 million ($433 million), in a bid to win control of its Taca Taca copper project in Argentina. The project, located about 120 kilometers (75 miles) east of the world's largest copper mine Escondida in Chile, has an indicated mineral resource estimate of about 21.15 billion pounds of copper.
First Quantum Minerals Ltd. (First Quantum) is a mineral exploration, development and mining company. Shares of FM traded higher by 0.37% or $0.08/share to $21.73. In the past year, the shares have traded as low as $14.22 and as high as $23.50. On average, 1491360 shares of FM.TO exchange hands on a given day and today's volume is recorded at 1453895.
Lumina Copper Corp. is a Canada-based company engaged in resource exploration with copper resources in Argentina. Shares of LCC traded higher by 24.74% or $1.93/share to $9.73. In the past year, the shares have traded as low as $3.86 and as high as $8.43. On average, 38681 shares of LCC.V exchange hands on a given day and today's volume is recorded at 96121.
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