Castillo Copper Sells Cangai Copper Mine to Infinity Mining

1 min read | October 03, 2024 07:34 PM AEST | By Team Kalkine Media

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Castillo Copper Sells Cangai Copper Mine to Infinity Mining — Image source: Shutterstock

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Castillo Copper focuses on its primary copper project by divesting the Cangai Copper Mine.

The sale includes three tenements in New South Wales, with Castillo receiving shares and options from Infinity Mining.

Castillo continues its strategy of asset sales to concentrate on core projects and seek strategic partnerships.

Castillo Copper Ltd (ASX:CCZ) has completed the sale of its Cangai Copper Mine to Infinity Mining. This transaction includes three tenements located in northern New South Wales. As part of the deal, Castillo Copper will receive a combination of Infinity shares and options.

This divestment is in line with Castillo’s ongoing efforts to streamline its asset portfolio, focusing resources on its primary project, the NWQ Copper Project in the Mt Isa copper belt in northwest Queensland. The company is set to become a key shareholder in Infinity Mining, positioning itself to benefit from future development at the Cangai site.

Earlier, Castillo divested its BHA West Project, further illustrating its strategy of enhancing shareholder value by collaborating with development partners. The company will retain ownership of two additional assets: BHA East in New South Wales and the Mkushi Copper Project in Zambia, while exploring new partnership opportunities.

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