Bloomberg reported that Lundin Mining is actively seeking copper acquisitions in Europe and is prepared to pay up to $700 million to fund a deal.
As quoted in the market report:
Lundin has copper operations in Spain and Portugal, and a stake in a copper-cobalt deposit in the Democratic Republic of Congo. Producers of the conductive metal, used in wires and pipes, have expanded to take advantage of increasing demand in China. Copper prices have more than doubled in four years.