Aurelia in Glencore copper mine buy talks

Aurelia Metals is in talks about a possible acquisition of Glencore's CSA copper mine in NSW.

"(The) CSA mine could potentially be a strategic fit," Aurelia said in a statement.

It added that building its portfolio of assets in the Cobar region could be attractive following its acquisition of Peak Gold Mines in the same area last year from Canada's New Gold Inc.

Aurelia, with a market value of about $600 million, is significantly larger than Aeris Resources, which this month said it was unable to reach an agreement with Glencore on its $820 million offer to buy the mine.

Aurelia shares were down as much as 3.7 per cent in early trade, against a 0.3 per cent drop in the broader market.


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Source: AAP



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