PanAust Ltd Tries to Form Partnership with Codelco in Bid for Chilean Copper Assets

Bloomberg reported that Australian miner PanAust Ltd. is trying to acquire copper assets in Chile and hopes to form a partnership with Codelco.

As quoted in the market report:

PanAust is boosting investments as it expects copper to stay between $3.50 and $3.80 a pound this year on sustained demand and limited supply, he said. Codelco, which invested a record $4.2 billion in 2012, plans to spend more than $5 billion this year as it begins to dig underneath its century-old Chuquicamata mine to access new deposits.

To view the whole Bloomberg report, click here.