Lundin Mining (LUN.TO) shares surged on Friday after a newspaper reported it it was in talks to be acquired by a Chinese-led consortium, although the Canadian copper miner said it was still exploring sale options. Stock in Lundin, initially halted at the market open, was up more than 10 percent mid-day in Toronto to C$9.23 after the Globe and Mail newspaper reported a consortium headed by China's Jinchuan Group Ltd, and including sovereign wealth fund China Investment Corp, was preparing a takeover bid. "It is understood that a handful of U.S. and Canadian pension funds and private-equity investors have also been invited to join the buying group," the newspaper said. The global copper market has become the latest battleground for control of global resources after the red metal hit record highs earlier this year amid ravenous demand from China.
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