Last Thursday, Western Copper and Gold (TSX:WRN) signed a memorandum of understanding (MOU) with Siemens Canada regarding the companies’ intent to negotiate the development of a concept for integrated electrical mining equipment for Western Copper’s Casino project.
Although the two companies are still in the early stages of talks, Siemens Canada’s interest in supplying electrical equipment for Casino is a significant vote of confidence for Western Copper’s project.
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On the other side of the world, a major Russian mining company began talks with Chinese companies about selling a stake in a Siberian copper deposit, according to a report from ResourceInvestor.com.
Metalloinvest Holding Co. Chief Executive Officer Andrey Varichev is accompanying Russian President Vladimir Putin on a visit to China that starts tomorrow, and may hold further talks about selling a stake in the project.
Russia wants to attract cash from the world’s second-biggest economy into industries from housing and infrastructure construction to natural resources, they said. Russian copper projects could be among the highest priorities for Chinese investors.
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