Sterlite still eyeing Asarco, awaiting right price

Sterlite Industries is showing strong moves after positive comments in the concall. Anil Agrawal, Executive Chairman, Sterlite, commenting on the negotiations with Asarco, said the company is keen on buying Asarco. Agrawal said, that they’ve entered into an agreement to buy Asarco, very prominent US-based copper producer. Post that event we have been in negotiation with the management of the company and the Courts for a renegotiated price. At the right price, we are keen to acquire this asset. This is an asset which has a 40-year mine life and has a current production of 40,000 tonne of fully integrated copper.