Business
Mundoro Announces Strategic Alliance with Vale for Copper in Southwest USA
Vancouver, British Columbia--(Newsfile Corp. - December 23, 2021) - Mundoro Capital Inc. (TSX...
About this update from Mundoro Capital Inc.
[{"type":"text","content":"Mundoro Announces Strategic Alliance with Vale for Copper in Southwest USAVancouver, British Columbia--(Newsfile Corp. - December 23, 2021) - Mundoro Capital Inc. (TSXV: MUN) (OTCQB: MUNMF) (www.mundoro.com) (\"Mundoro\" or the \"Company\") is pleased to announce the establishment of a generative alliance (the \"Generative Alliance\") between Mundoro and Vale Exploration Canada Inc. (\"Vale\"), a subsidiary of Vale S.A., focused on generation of new projects with high potential to host porphyry copper and related metals deposits within Arizona and New Mexico, located in the south western United States. Mundoro and Vale have entered into an indicative Term-Sheet in November 2021 and expect to enter into a definitive agreement in Q1-2022.In addition to the Generative Alliance, Mundoro and Vale have entered into a definitive Option Agreement in December 2021 for a property focused on copper porphyry exploration in Arizona according to the commercial earn-in terms identified below. Teo Dechev, CEO and President commented: \"We are delighted to establish this generative strategy with Vale in search for new copper projects in the Laramide Belt in the southwest USA. The Company's generative strategy in the Laramide Belt will be focused on porphyry and related copper systems similar to our focus for these deposit styles in the Western Tethyan Belt of Eastern Europe. Since our business has focused on the generative approach of directly staking and partnering with mining companies, Mundoro has completed six deals with companies such as JOGMEC, Vale, Freeport, and First Quantum, on various properties in our portfolio in the Western Tethyan in Eastern Europe. Partner funded work programs along with our generative efforts have invested over C$30 million of expenditures which brings value to our stakeholders at the community level of where these funds are invested, to our partners and to our shareholders. This strategic expansion to broaden our exploration to an additional important copper district in advance of increasing copper demand and continued supply constraint fundamentals provides further opportunity for our mining partners and shareholders seeking exposure to copper assets through a well-structured junior resource company. We look forward to the next two years of generative exploration in the southwest USA with Vale.\"Commercial Ter...