08:59 AM EST, 03/05/2025 (MT Newswires) -- Portugal-based asset management firm Oxy Capital said on Wednesday that it acquired 2.1% of Montero Mining and Exploration ( MXTRF ) , boosting its stake in the miner to 14.1%

Oxy paid $326,268 or $0.314 per share. Montero's share price fell 8.6% on Tuesday to $0.32 on the TSXV.

Oxy said it acquired the shares for investment purposes while noting that it may increase or decrease its interest in Montero depending on market conditions.

Montero recently received the final installment of US$7 million from Tanzania as part of a US$27 million settlement regarding Tanzania's expropriation of Montero's Wigu Hill rare earth element project.