Anglo Asian will take a 19.9% stake in Libero Copper & Gold Corporation, for US$4.9 million.
TSX-listed Libero owns, or has the option to acquire, several copper exploration properties in North and South America including the Mocoa project, a large copper-molydenum resource in Colombia.
"This strategic investment is aligned with our broader growth strategy to build upon our deep technical knowledge of the mining industry and expand our involvement in mining beyond our core focus in Azerbaijan," Anglo Asian CEO Reza Vaziri said.
"The deal adds to its copper exposure and diversifies its asset base with new projects outside Azerbaijan," SP Angel said in a note.
Anglo Asian shares were up 2.5%, at 112.70p, at 12.26 London time.
