Canada's First Quantum Minerals is engaged in the production, exploration, development and processing of copper, gold, nickel and acid. The company has operations in Africa and has recently expanded into Finland and Australia. In 2010, it acquired the Haquira copper project in Peru's Apurímac region as part of the takeover of compatriot Antares Minerals. Production is estimated at 230,000t of copper during the first 10 years. Antares also has a 50% interest in the Rio Grande project in Argentina's Salta province, which was spun out into a new exploration company called Regulus Resources in which Antares shareholders own 90.1% and First Quantum 9.9%. The acquisition is part of First Quantum's strategy to move into Latin America. In 2013, First Quantum Minerals Ltd acquired a 14.941% stake in Tsodilo Resources Ltd., as well as completing the US$5.1bn takeover of Canadian company Inmet Mining Corp., which included its main asset, the Cobre Panamá copper and gold project. In 2014, the company agreed to acquire Lumina Copper for Cdn$470mn (US$432mn), gaining control of the Taca Taca project in Argentina. It was first incorporated in 1983 and is based in Vancouver, Canada.