Swedish base metals miner Boliden AB (BOL.ST) is on the lookout for copper acquisitions in the Americas, the company's general manager of mining business development said on Wednesday.
We have been looking for juniors, Thomas Hedberg said on the sidelines of the CRU/CESCO copper conference in Santiago.
Hedberg said the company was eyeing takeovers from Chile to Alaska and would consider both exploration-stage properties and producing mines.
Most of the west side of the Americas are where the projects are, Chile and all the way up to Alaska. Those are prospective countries to find new projects and that's where most of the exploration money is being spent, he said.
Asked if the company would consider acquiring an operating mine, Hedberg said it would need to be big and good enough to justify the investment.
He said, however, the company had no interest in Africa, which has seen a revitalization of its base metals industry in recent years, but is seen posing greater risks to companies operating there.
Boliden is in the midst of a cost cutting program to shore up its balance sheet and has scaled back production of both copper and zinc since December at its Scandinavian smelters due to flagging demand. (Reporting by Pav Jordan, writing by Cameron French; Editing by Andre Grenon) (For help: Click Contact Us in your desk top, click here [HELP] or call 1-800-738-8377 for Reuters Products and 1-888-463-3383 for Thomson products; For client training: firstname.lastname@example.org ; +1 646-223-5546 ))© Thomson Reuters 2009 All rights reserved