The discovery provides new perspective on long-distance relocation of goods and relationships between the early Copper Age cultures.
The mummified body of Otzi was discovered in September 1991 in the Otztal mountains. He had died 5,300 years ago on what is now the border between Italy and Austria - miles away from Tuscany.
He perished after being shot in the back with an arrow by an unknown assailant, in one of the world's oldest murder mysteries, 'The Telegraph' reported.
It is known that copper was mined in the Alps so it is a mystery why the Iceman's blade should have come from so far away.
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Radiocarbon dating of the axe's wooden shaft shows that it dates from the early Copper Age, meaning that it was crafted in the 4th millennium BC.
"The results prove unequivocally that the metal in Otzi's copper blade came from Tuscan deposits," said South Tyrol Museum of Archaeology in Italy.
The findings were published in the journal PLOS ONE.