Australian copper miner FireFly Metals Ltd. is seeking to raise A$190 million ($136 million) to develop its Green Bay project in Canada. The Perth-based company plans to raise A$150 million through an institutional placement in Australia, offering shares at A$1.78 each. Additionally, FireFly Metals is raising A$30 million through a Canadian private placement at C$1.76 per share.

A share purchase plan will target an additional A$10 million from Australian and New Zealand shareholders. The funding will support development of the Green Bay copper project, strengthening FireFly Metals' position in the commodities market.