Arctic Minerals AB (publ) (OM:ARCT) acquired an unknown stake in Peräpohja copper project from Rio Tinto Group (LSE:RIO) on December 1, 2022. Post this transaction Arctic Minerals AB holds 100% stake in Peräpohja copper project. The Peräpohja copper project consists of 24 ore exploration permits and applications for a total of 1,120 km 2 (112,000 hectares). Based on the Royalty Agreement, Rio Tinto is entitled to a royalty of one percent of the revenue from any production from the project. Arctic Minerals will get full control over the project and gets full access to all collected data and exploration work carried out by Rio Tinto in the Project. UB Securities Oy acted as financial advisor to Arctic Minerals AB.

Arctic Minerals AB (publ) (OM:ARCT) completed the acquisition of an unknown stake in Peräpohja copper project from Rio Tinto Group (LSE:RIO) on December 1, 2022.