(Updates withpossible targets in third paragraph.)
By Maciej Martewicz and Christopher Donville
Oct. 20(Bloomberg) -- KGHM Polska Miedz SA, Poland’s sole
copper producer, will place a bid for a Canada-based mining
company in early November as part of its foreign expansion.
Thestate-controlled company, which forecasts net income of
9.64 billion zloty ($3 billion) this year, will finance the
acquisition with its own funds, Chief Executive OfficerHerbert
Wirth told reporters today in Lubin, Poland, withoutdisclosing
the name of the target.
Nevada CopperCorp., Lumina Copper Corp. and Candente
Copper Corp. are among possible takeover targets, Scotia
Capital’s mining sales desk in Toronto said today in a noteto
clients. The mining companies each have development projects
with the potential to produce at least 250 million pounds of
copper a year, Scotia said.