Mr Herbert Wirth CEO of KGHM said that Europe's No 2 copper producer, KGHM, may make joint acquisitions with China Minmetals Corporation.

The Polish state controlled miner is speeding up plans to make acquisitions outside its home country as it braces for an upcoming increase in mining tax in Poland, which is to yield PLZ 1.8 billion (USD 529 million) in 2012.

Mr Wirth said in an interview with broadcaster TVN CNBC said that "For the time being we had discussions with China Minmetals in the field of joint acquisitions. We have ideas for that. It would be a third market (not Poland or China)."

China Minmetals has a history of co operation with KGHM. Earlier this month, the Chinese company secured deliveries of copper cathodes from the Polish miner worth between USD 1.83 billion to USD 3.66 billion in 2012-2016.

Wirth told Reuters in an earlier interview the company was looking at five takeover projects on top of the recently agreed CAD 3 billion (USD 2.92 billion) purchase of Canadian rival Quadra FNX in an effort to meet ambitious output goals.

(Sourced from Thomson Reuters)