(Reuters) - Australian copper producer Aeris Resources Ltd on Wednesday said it had offered to buy global trader and miner Glencore's copper mine in the state of New South Wales for $575 million.
Aeris said in a statement that negotiations were at a late stage, with the offer comprising $525 million in cash, $50 million in Aeris shares and a royalty payable to Glencore.
A spokesman for Glencore declined to comment.
The Queensland-headquartered Aeris, with a market value of A$78 million ($55.19 million), said the acquisition could be funded through a combination of debt, an equity capital raising and an agreement through which it would sell mine byproduct silver to Glencore.
Glencore also has a copper mine in the state of Queensland.
(Reporting by Aby Jose Koilparambil in Bengaluru; Editing by Richard Pullin and Joseph Radford)
