Source - SMW
Strategic Minerals has agreed to acquire the Leigh Creek copper mine in southern Australia from Resilience Mining.

The acquisition will be paid for via a combination of loans, share distributions and cash payments, subject to certain milestones being reached.

"The proposed acquisition is a consistent step in the company's growth strategy of acquiring and developing projects in minerals/metals that we expect to have demand/price upside over the next three to five years," Strategic managing director John Peters said.

"The project has near term production and cash flow potential, local product demand and excellent growth prospects, through further exploration or surrounding tenements."