December 6, 2011 / 2:54 PM / in 6 years

KGHM says Quadra FNX buy to boost 2012 output

WARSAW, Dec 6 (Reuters) - Europe’s No.2 copper producer KGHM says its takeover of the Toronto-listed Quadra FNX Mining should boost its 2012 output by 25 percent, KGHM said on Tuesday.

“The Quadra takeover will boost KGHM’s nest year’s output by 25 percent or 100,000 tonnes, perspectively by almost 50 percent,” the state-controlled miner’s statement read.

“(KGHM‘s) overall copper deposits will grow by over 8 billion tonnes of copper or 28 percent, placing KGHM at No.4 in the world.”

Earlier on Tuesday, Quadra FNX Mining said it has agreed to be acquired by KGHM for about C$3 billion ($2.96 billion), plus debt. ($1 = 1.0131 Canadian dollars) (Reporting by Adrian Krajewski)

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