Monday, March 8, 2010

Quadra Mining (TSE:QUA) Soars on China Deal

Quadra Mining China Venture

Quadra Mining (TSE:QUA) shares soared by almost six percent as they agreed to a deal with the largest utility company in China - State Grid International Development - to develop the Sierra Gorda mine in Chile.

The Sierra Gorda project is a giant copper mine which will take about $2 billion to develop.

The Franke mine is also part of the deal. State Grid International Development paid $151.6 million for the 50 percent stake in the venture.

Quadra Mining China Venture

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