Altona Seeks Partner After Xstrata Exits Copper Venture
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Altona Mining Ltd., developer of a A$320 million ($338 million) copper venture in the Australian state of Queensland, aims to find a new partner or sell the project in the next six months after Xstrata Plc withdrew.
Altona, which also owns the Outokumpu mine in Finland, has started a process to target investors in Asia and Europe after Xstrata chose not to exercise an option to acquire a 51 percent stake in the Roseby development, Alistair Cowden, managing director of Perth-based Altona, said today in a phone interview. Credit Suisse AG is the financial adviser.