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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.

Canada's Quadra Mining said on Monday it expects to raise copper production from its three operations by more than 50 percent in 2010, sending shares up 2.7 percent.

Canada's Quadra Mining said the first quarter copper output from its Carlota mine near Miami, Arizona, will be less than expected due to a series of rain storms, the first in 300 years.

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.