Latin Resources welcomes dual listing of Westminster Resources on ASX

Latin Resources Ltd (ASX:LRS) (FRA:XL5) welcomes the announcement that Westminster Resources Ltd (CVE:WMR) has commenced the process of dual listing on the Australian Securities Exchange. LRS is Westminster’s largest shareholder, with a 24% interest in the company which is developing its copper project portfolio in Latin America including the newly acquired Mostazal Copper Project. As part of its entry into the Australian market and the company's expanding focus in Latin America, it will change its name from Westminster Resources to Solis Resources Ltd. Appropriate stock symbols for both Canadian and Australian markets will be selected and announced when the corporate re-branding has taken effect. “Diversifying Australian shareholder base” Westminster president and CEO Jason Cubitt said: "Australia has a rich mining culture and the ASX is second only to Canada's TSX for the number of listed mineral exploration and development companies. “We look forward to gaining exposure to this important retail and institutional market and further diversifying our existing Australian shareholder base with this listing." As a result of this listing, the company expects to benefit from both access to capital and overall liquidity as it develops its Latin American projects. Mostazal copper project Notably, Westminster holds a 100% interest in a package of highly prospective IOCG and porphyry copper projects in southwestern Peru within the country's prolific coastal copper belt-source of nearly half of Peru's copper production. The company also recently acquired an option to purchase a 100% interest in the Mostazal copper project in Chile's Atacama Desert, one of the world's premier copper production jurisdictions. Westminster now intends to commence exploration, targeting a large-scale copper porphyry system, underlying the already delineated higher-grade copper mineralisation at surface. Strong copper outlook Latin Resources is strongly supportive of the well-structured and well-timed acquisition of the Mostazal project – particularly with the outlook for copper being so robust. The environmental agenda globally and the proliferation of electric vehicles, as well as the increased use of renewable energy sources, energy efficiency and increased consumption of electronics are all driving the copper price. Last month it peaked at US$10,724/tonne and the only other time in history copper peaked above US$10,000/tonne was in 2011 on the back of Chinese economic stimulus and a 2000s commodities boom. This demand is also being driven by the USA and China; with the Chinese economy is using huge amounts of copper as infrastructure growth continues, and copper wiring for new homes and offices remains a high priority; and US President Biden’s US$1.9 billion infrastructure program lifting metals markets as a whole. The green revolution is likely to create a record wide supply gap by 2030, while on the supply side not many big new projects are coming on stream. Looking forward, Latin Resources is well placed to capitalise on the forecast demand for the highly sought-after metal as Westminster’s Mostazal Project progresses towards development.