UPDATE: KGHM to acquire Canada’s Quadra FNX for $2,83 bn
Dec 07, 2011 | 04:58 AM
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Canadian producer Quadra FNX Mining Ltd has agreed to an acquisition by KGHM Polska Miedz SA, the companies announced Tuesday.
The acquisition will boost KGHM’s production by 25%, or 100,000 tonnes of mined copper, KGHM said in press conference on Tuesday evening.
The $2.83 billion deal is subject to approval from the board at an AGM, which Quadra FNX will hold in January 2012.
KGHM will finance the purchase from its own resources, it said.
Vancouver-based Quadra operates six mines in Canada, Chile and the United States, according to Quadra’s Web site.
KGHM said that Quadra was....
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