Polish company's bid for Quadra FNX includes Arizona's Carlota mine
The state-owned Polish mining company KGHM has a deal to buy out Canadian-based Quadra FNX, including the latter's Carlota copper mine in Arizona. Business Week reports the price of $2.84 billion is the "largest overseas acquisition by a Polish company."
It was only last month that Quadra FNX announced it would 'wind down' production at Carlota due to higher costs and lower ore grades than expected. [Right, Carlota mine in 2008. Credit, Robert Shantz] The mine is in the Globe-Miami mineral district, southeast of Phoenix.