Lara Exploration took control of Mantaro

The Canadian company Lara Exploration announced an increase in its stake in the Mantaro phosphorite project (Peru) from 33.33% to 70%. The company also promised to invest $500 thousand in it by the end of 2025.

In 2008, Lara Exploration sold its stake in the Mantaro project to Sprott Resource. Sprott Resource later resold it to Stonegate Agricom, which did exploration drilling and evaluated reserves. However, Stonegate Agricom faced opposition from local residents who secured a ban on further work. In June 2021, Stonegate Agricom returned the Mantaro project to Lara Exploration and two partner companies.

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