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Ottawa rubberstamps Quadra FNX takeover

Investment Canada has given approval for KGHM, a Polish copper and silver miner, to acquire Quadra FNX. The Feb. 29 announcement by the Vancouver-based miner said the deal closes March 5.
Northern Ontario Business Staff

Investment Canada has given approval for KGHM, a Polish copper and silver miner, to acquire Quadra FNX.

The Feb. 29 announcement by the Vancouver-based miner said the deal closes March 5.

KGHM made a bid for the Canadian mid-tier producer in December for $2.87 billion.

With 2,500 employees, Quadra runs a three-deposit base metal operation in Sudbury and has mines in Nevada, Arizona and Chile.

KGHM; headquartered in Lubin, Poland; is a leading global copper and silver producer and is Europe's largest copper producer.