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[Source: www.abc.net.au]

Xstrata secures copper deposits deal
By David Lewis
Posted 2 hours 20 minutes ago

Xstrata has cleared the final hurdle in purchasing $175 million worth of copper deposits in north-west Queensland.

Shareholders in Exco Resources yesterday voted in favour of selling the assets to the Swiss mining giant.

Xstrata Copper chief executive officer Steve de Kruijff says the company needed the copper deposits to expand its Ernest Henry Mine near Cloncurry.

"We're also transitioning from an open-pit mine at Ernest Henry into an underground, so these two deposits become very strategic for us," he said.

"They're located very close to Ernest Henry's operation and we'll be able to provide additional feed to our processing plant at Ernest Henry."


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