Quadra FNX Provides an Update on State Grid International Development MOU

Quadra FNX Mining Ltd. (TSX:QUX) announced that the memorandum of understanding entered into with State Grid International Development Limited expired on June 15, 2010; the parties were not able to conclude a definitive agreement for the formation of a joint venture prior to expiry of the MOU.

The press release is quoted as saying:

Quadra FNX Mining Ltd. is a leading mid-tier copper mining company with corporate offices in Vancouver, B.C. and Toronto, Ontario. Quadra FNX produces copper and platinum group metals from its operating mines: the Robinson mine in Nevada, the Carlota mine Arizona, Franke mine in northern Chile, and the McCreedy West, Levack and Podolsky mines in Sudbury, Ontario. The company possesses several advanced development projects, including the Sierra Gorda copper-molybdenum project in Chile, the Morrison Deposit in Sudbury, and the Malmbjerg molybdenum development project in Greenland. Quadra FNX employs approximately 1,650 people in North and South America.

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