Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

Mercator Considers Selling Stake in Mexican Copper Project

Mercator Minerals Ltd., which mines copper in Arizona, is considering options including the sale of a minority stake of about 25 percent in its El Pilar project in Mexico to a partner that would help fund the mine’s development.

There are financial partners, including Asian trading companies, that have access to low-cost financing, Chief Executive Officer Bruce McLeod said yesterday in an interview at the Prospectors & Developers Association of Canada convention in Toronto. A partner could take a minority interest in the asset and also help to fund the project’s debt, he said.

“We are having discussions with several parties along those lines,” he said.

The El Pilar mine will require an estimated $280 million, including working capital, and Mercator has all the permits it needs to start construction, McLeod said.

Mercator produces copper from the Mineral Park mine in Arizona. The company has forecast 2013 output of 41.5 million to 46.5 million pounds of copper, 11 million to 12 million pounds of molybdenum and 620,000 to 690,000 ounces of silver.

Mercator fell 2.5 percent to 39 Canadian cents in Toronto. The shares have dropped 76 percent in the past year.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.