Xstrata buys into Papua New Guinea copper venture
Xstrata has exercised an option to acquire 82 percent of Highlands Pacific Ltd.’s interest in the Frieda River copper project in Papua New Guinea, Highlands said on Monday.
The company said it believed Xstrata’s involvement showed the development potential of the copper and gold deposit.
Xstrata, which would become project operator, would have to complete a feasibility study by 2012 to maintain its interest, Highlands said.
