Forte sells project stake for $2m

West Perth-based Forte Energy has sold its stake in the Maroochydore copper project in Western Australia to partner Aditya Birla Minerals for $2 million cash.

The companies today executed the sale, and Forte Energy is now released from any current or future obligations under the joint venture agreement.

The agreement remains subject to approvals from state mining minister and the Foreign Investment Review Board.

Settlement of the transaction is expected next month.