Mantos acquires Rio Tinto's shares in Mason Resources

Pursuant to a share purchase agreement with diversified mining major Rio Tinto subsidiary Rio Tinto Holdings, and Canadian mineral exploration and development company Turquoise Hill Resources, Bermuda-based Mantos Copper will acquire about 13-million shares in copper development company Mason Resources. Copper-focused Mantos, which owns and operates two mines in northern Chile – Mantos Blancos and Mantoverde – will acquire about 7.5-million shares from Rio Tinto Holdings, representing about 9.58% of the outstanding Mason shares, and about 6.2-million shares from Turquoise Hill, representing about 7.98% of the outstanding Mason shares, at C$0.20 a share for an aggregate purchase price of about C$2.7-million. Mantos Copper will, therefore, acquire about 17.56% of the outstanding Mason shares.