PERTH (miningweekly.com) – Australian copper miner Cudeco on Wednesday confirmed that it was in discussions with various Chinese entities to develop its Rocklands project, in Queensland.
In a statement, Cudeco said that its “representatives are in China at present, and in discussions with a number of different entities in relation to different aspects of the Rocklands project”.
However, Cudeco said that it had not entered into any agreements at this time.
The copper developer was responding to an article in the China Daily, which reported that Xiangguang Copper was planning to acquire a 15% stake in the Rocklands project.
The deal would bolster the Chinese company’s raw materials supply.
"We are interested in purchasing overseas resources to secure our material supplies and CuDeco could be a good option," China Daily quoted Liu Zhiguang, president of Fengxiang's subsidiary Xiangguang Copper, as saying.
The daily further quoted CuDeco’s chairperson Wayne McCrae as saying that the Xiangguang deal would assist in improving Cudeco’s finances, while the Chinese firm would get access to copper supplies.
|
|
