LONDON, UK: Ecora, a global mining royalty company, has announced the acquisition of a 0.25% royalty over the open pit of the Vizcachitas copper project in Chile, for $20 million.

Vizcachitas is one of the world’s largest undeveloped copper projects, owned by Los Andes Copper Ltd.

The deal adds to Ecora’s portfolio of copper royalties, which includes projects in Australia and Chile. Ecora said that the project has a 26-year mine life, low production costs, and strong sustainability credentials. The project is expected to start production in 2029.

Ecora’s CEO Marc Bishop Lafleche said that the transaction was driven by the expected high demand for copper in the energy transition. Los Andes’ CEO Santiago Montt welcomed Ecora as a new partner and said that the investment validates the quality and potential of Vizcachitas.