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KGHM became the majority holder in Sierra Gorda shortly after buying Canada’s Quadra FNX Mining Ltd. in 2012. The $3 billion acquisition is expected to generate 220,000 tons of copper a year.

The Canadian base metals producer with offices in Toronto and Vancouver said it has agreed to have all its outstanding shares and warrants acquired by KGHM Polska Miedź  S.A. (KGHM) for $3.5 billion. Quadra FNX has operating mines in Ontario, Arizona, Nevada and Chile, where the company is also developing the Sierra Gorda copper-molybdenum mine.