Reportedly, Poland’s KGHM Polska Miedź S.A announced that it has made a further purchase of 29% shares in KGHM Ajax Mining, a joint venture company built by GHM Polska Miedź S.A, Abacus Mining and Exploration Corporation.

After the share acquisition, KGHM Polska Miedź S.A will own 80% shares in KGHM Ajax Mining from the previous 51%.

KGHM Ajax Mining owns an important Afton-Ajax copper-gold project in Canada and the production of copper fines and gold is expected to reach 50,000 tons and 2,835 kilograms respectively during its 23-year service life. The project is planned to be put into operation in 2015.