Good evening,

Marimaca Copper, worth some $C457 million ($502 million) on the Toronto Stock Exchange, is marching down the well-trodden path of Canadian mid-cap miners and is seeking a dual listing on the ASX.

Marimaca is preparing to file paperwork for an Australian listing after a 32 per cent share price rally this year. Its flagship asset, the Marimaca copper discovery near Antofagasta in Chile, is far closer to infrastructure like ports, roads and water than most Chilean copper mines. The company hopes to get its feasibility study away by the end of the year.

Sources said Marimaca chief executive Hayden Locke, a banker turned mining executive, has been encouraged by Toronto-listed $C7.5 billion Capstone Copper’s ASX listing earlier this year and sees it as a template for his company. The dual listing enabled Capstone’s private equity backer, Orion, to sell down $593 million via a block trade targeted at ASX investors.

Should Marimaca push ahead with a local listing as expected, it would be a sizeable addition to the rather short list of pure-play copper exposures on the local bourse.

Read the full story tomorrow and more on the Street Talk page.

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A rally in utilities and the major banks helped push Australian shares higher on Friday.

Click here for the latest equity market wrap.