Copper miner Western Areas is thinking of expanding into copper. Not that I think they will be interested in buying our future mine, but they show that copper mines are high on the list of acquisitions.

"Australian nickel miner Western Areas may look to increase its exposure to copper through new acquisitions, given expectations of robust demand for the red metal in the coming years, although for now good-value opportunities are lacking, the company’s managing director said Wednesday.

Lougher said nickel still provides decent margins for the miner, which is one of the lowest cost producers in the sector and has assets in Australia, Canada and Finland. However, he said in order to develop the company from its current market capitalization of around A$1 billion, Western Areas may need to diversify its metal output, prompting the interest in potential copper assets.

"Copper and gold are the sweetheart metals,” Lougher said. “And while you have got to hedge your bets, [in the current economic climate] the market will be really sensitive to those who jump into another commodity and get it wrong. That’s why good copper projects are probably the best option.

http://blogs.wsj.com/dealjournalaustralia/2012/03/15/western-areas-may-expand-into-copper/?mod=google_news_blog