Unicoin Inc., the entity behind the asset-backed cryptocurrency bearing the same name, has concluded an all-crypto acquisition of copper exploration rights and mineral privileges in Argentina. The deal, valued at $210 million, involves the purchase from Electroquímica Del Neuquen S.A.
The acquisition, known as the Barda Gonzales Project, is located within Argentina’s Neuquen Province. In accordance with the transaction’s assessment, the value stands at $0.50 per unicoins, resulting in Unicoin Inc. exchanging 420 million unicoins for the property’s ownership from Electroquimica.
The ongoing process of electrifying the mine is projected to escalate the annual demand for copper to reach 36.6 million metric tons by 2031. Nevertheless, the anticipated supply is expected to remain around 30.1 million tons. This predicts a notable deficit of 6.5 million tons at the start of the upcoming decade.
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