News Summary
Arizona Sonoran Copper has successfully acquired 2,123 acres of private land to enhance its Cactus Project. This strategic purchase aims to facilitate the development of key infrastructure including a solvent extraction/electrowinning plant and leach pads. The acquisition, which totaled $5 million, integrates 2,043 acres from a consortium and 80 acres from a single landowner, expanding the Cactus Project’s total land package to 7,843 acres. This move positions the project closer to securing financing and advancing its operational plans amid growing copper demand driven by clean energy technologies.
Arizona – Arizona Sonoran Copper has announced a significant acquisition of 2,123 acres of private land to support the development of its Cactus Project. This acquisition includes 2,043 acres obtained from a consortium of related private corporate landowners and an additional 80-acre parcel from a single landowner. The strategic purchase aims to facilitate the necessary infrastructure and anticipated development for the Cactus Project, which will feature a solvent extraction/electrowinning (SX/EW) plant, leach pads, and waste rock stockpiles.
The overall investment in the consortium land amounts to $5 million, acquired at a cost of $50,000 per acre. The payment structure includes $2 million in cash and 1,549,487 common shares at the time of closing. The remaining balance will be disbursed over the next four years at an annual interest rate of 6%. Additionally, the 80-acre parcel was purchased on June 27, 2025, at a rate of $30,000 per acre, with an upfront payment of $1.2 million in cash. The remaining amount of that purchase is due by June 27, 2026, and will not incur any interest.
This acquisition expands the total land package for the Cactus Project to 7,843 acres, enhancing operational flexibility and the potential for further mineralization development. The average price per acre across this land consolidation stands at approximately $49,200, with around 6% of the total cost settled at closing through a mix of cash and common share transactions.
Arizona Sonoran Copper is currently looking to secure financing for the Cactus Project, with expectations to have arrangements in place by the fourth quarter of 2026. In part, this financing may be allocated to pre-pay vendor loans due to mature on August 29, 2029. The acquisition is seen as a critical milestone that reduces potential risks associated with the Cactus Project, while also paving the way for future exploration initiatives.
In June, Arizona Sonoran Copper completed a public offering that raised C$51.75 million (approximately $37.6 million) through the issuance of 25,875,000 common shares, which included shares from an over-allotment option exercised by underwriters. This financial infusion aids in covering the operational costs associated with the development of the newly acquired land.
The acquisition of this contiguous land will support the operational requirements for the planned heap-leach operation and SX/EW copper cathode production at the Cactus Project. A strategic benefit of this contiguous acquisition lies in the reduction of operational and legal hurdles, moving the project closer to a final investment decision, which is projected for late 2026.
Moreover, the previous landowners involved in the transaction will now hold shares in the company, thus aligning their interests with the success of the project. The site’s strategic location near Casa Grande’s industrial area positions it well to capitalize on the anticipated growth in copper demand attributed to advancements in clean energy technologies.
With its latest land acquisition, Arizona Sonoran Copper underscores its commitment to advancing the Cactus Project, which is poised to become a central player in the burgeoning copper market driven by the need for sustainable energy solutions.
Deeper Dive: News & Info About This Topic
- Mining Technology
- Business Wire
- Finimize
- NS Energy Business
- Wikipedia: Copper
- Google Search: Arizona Sonoran Copper
- TipRanks
- Junior Mining Network
- Encyclopedia Britannica: Cactus
- Google News: Cactus Project
Author: STAFF HERE PHOENIX WRITER
PHOENIX STAFF WRITER The PHOENIX STAFF WRITER represents the experienced team at HEREPhoenix.com, your go-to source for actionable local news and information in Phoenix, Maricopa County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as the Waste Management Phoenix Open, Cactus League Spring Training, and Arizona State Fair. Our coverage extends to key organizations like the Greater Phoenix Chamber of Commerce and Visit Phoenix, plus leading businesses in technology and healthcare that power the local economy such as Intel and Banner Health. As part of the broader HERE network, including HERETucson.com, we provide comprehensive, credible insights into Arizona's dynamic landscape.
