2023-08-14 08:48:43 ET
- Diversified energy company Cunningham Natural Resources ( OTCPK:HNRC ) Monday announced the acquisition of a 10% stake in Kharrouba Copper Company (KCC), with options to increase its holding over time.
- Based on the investment being made, KCC would have an enterprise value of $60 million, said the company.
- KCC is a Canadian firm, with copper mining and processing operations in the Kingdom of Morocco.
- Demand for copper is in a super cycle with automakers scrambling to secure supplies of key metals like copper used in the production of electric vehicles, HNRC added.
- Source: Press Release
For further details see:
Cunningham Natural Resources acquires Canadian copper miner, eyes higher demand