PERTH, AUSTRALIA--December 23, 2013--Researched by Industrial Info Resources Australia (Perth, Australia)--PanAust Limited (ASX:PNA) (Fortitude Valley, Queensland) has agreed to buy an 80% stake of the Frieda River copper and gold mine project in Papua New Guinea from Glencore Xstrata plc (LSE:GLEN) (Baar, Switzerland) for $75 million.