Copper miner Capstone Mining (CS.TO) says it's on the acquisition trail, willing to spend up to C$1 billion ($1.03 billion) for a rival as it seeks to double its copper production. Brad Mercer, vice-president for exploration, said on Monday the company is on the lookout for a "merger of equals," and would consider a bid for a rival with assets that are at an earlier stage of development than its own. "I think first and foremost we are looking for a company that would double our production, so take us from 100 million pounds a year to something in the range of 200 million pounds a year, and a merger of equals," he told Reuters after a presentation at the PDAC prospectors and developers convention in Toronto.
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