Mundoro Capital (TSXV: MUN) has inked a two-year generative alliance with Vale’s (NYSE: VALE) Canadian subsidiary to explore for copper projects in Arizona and New Mexico in the United States.
The two companies also signed an agreement to explore an undisclosed copper property in Arizona.
“We are delighted to establish this generative strategy with Vale in search for new copper projects in the Laramide Belt in the southwest USA,” Teo Dechev, Mundoro’s CEO, said in a press release.
“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.”
Mundoro, which has a string of projects focused on copper and gold in eastern Europe, has completed six exploration deals with companies including JOGMEC, Freeport-McMoRan (NYSE: FCX), Vale and First Quantum Minerals (TSX: FM).
“Partner funded work programs along with our generative efforts have invested over $30 million of expenditures which brings value to our stakeholders,” said Dechev.
(This article first appeared in The Northern Miner)