LME Copper to Move Higher (2017-6-9)

Australia-based gold-antimony ore company Larvotto Resources is expanding its exposure to copper assets through the acquisition of Hammer Metals, aiming to create a district-scale portfolio in Queensland. Under a binding agreement signed by the two companies on Thursday, Larvotto will acquire 100% of Hammer in an all-stock transaction, issuing one new share for every 22 Hammer shares acquired.

Argentine Mining Minister Lucero Luis said on Thursday that as Argentina implements economic reforms and a new legal framework to attract and support mining projects, the country’s government is poised to become a preferred destination for critical mineral investment.Speaking at a critical minerals event hosted by the US Chamber of Commerce, Lucero said: “Argentina possesses one of the world’s most important critical mineral resource portfolios.” According to S&P Global Market Intelligence, the country holds 85.5 million mt of lithium reserves and resources and 124.3 million mt of copper reserves and resources.