Assore invests C$68m in Marimaca Copper

Assore International Holdings (AIH), a subsidiary of South Africa’s Assore Group , has made a C$68-million investment in Toronto-listed Marimaca Copper that owns the Marimaca project in Chile’s Antofagasta region.

The strategic investment comprises two parts: first, the acquisition of 9.42-million shares of Marimaca from an affiliate of Tembo Capital Mining, Ndovu Capital, at C$4.50 a share generating C$43.38-million for Tembo Capital. Second, AIH subscribed to 5.73-million units through a C$25.76-million nonbrokered private placement.