Universal is setting up joint venture with Xstrata Copper

Copper hopeful Universal Resources Ltd has strengthened its relationship with Xstrata Copper and formed a joint venture to explore for copper sulphides in Queensland.

The joint venture partners will explore for copper sulphides over a 174 square kilometre section of Universal's emerging Roseby project near Mt Isa.

The two parties have an existing alliance over the Sulphide Extension Exploration Project at Roseby, which will see Xstrata Copper spend up to $15 million on exploration.

The alliance and the new joint venture are between Universal and Xstrata Copper's subsidiary, Mount Isa Mines Ltd.