Aldebaran Resources Partners with Rio Tinto’s Nuton on Argentina’s Altar Copper-Gold Project

Aldebaran Resources

Mineral exploration firm Aldebaran Resources has announced a strategic partnership with Rio Tinto’s Nuton Holdings to propel the Altar copper-gold project through to the pre-feasibility stage. The partnership represents a significant step forward in advancing one of Argentina's most promising copper-gold projects.

Investment Details

Under the agreement, Nuton Holdings can acquire a 20% indirect interest in the Altar project by committing staged payments totaling $250 million over a two-year period. Despite the investment, Aldebaran will retain an 80% majority stake in the project.

Altar Copper-Gold Project Overview

The Altar project is located in the copper-rich San Juan province of Argentina and hosts a cluster of porphyry deposits. Exploration efforts are ongoing to meet the rising global demand for copper, driven by the transition to renewable energy and electrification technologies.

A 2021 resource estimate for the Altar project reported approximately 5.2 million tonnes of copper in the measured and indicated resource categories, with an additional 770,000 tonnes classified as inferred. These significant resources underscore the potential of the Altar project to contribute to the growing global copper market.

This partnership between Aldebaran Resources and Rio Tinto's Nuton Holdings highlights the increasing interest in high-quality copper assets and reflects the broader industry trend of securing critical mineral resources to support global energy transitions.