Polish miner KGHM plans to sell its copper mines in Nevada and Arizona to divert funds to its domestic mine and smelter operations.
According to media reports, the two mines, Robinson and Carlota, are valued at around $500mn, owing to rising copper prices, high demand, and a global deficit of the red metal.
KGHM has owned the mines since 2012 when it bought out Canadian firm Quadra FNX. The Robinson mine is estimated to hold around 317mn mt of copper-gold resources, grading 0.47pc copper. Carlota, on the other hand, may hold around 4.8mn mt of minerals, grading 0.45pc copper.
Copper is expected to hold a strong market position thanks to increasing electrification in most industries, especially automotive.