TORONTO, Aug 12 (Reuters) - Barrick Gold ( GOLD ) stands

ready to be a partner in the Cobre Panama copper mine once the

Panamanian government decides on the disputed asset's future,

Mark Bristow, CEO of the Canadian gold and copper mining

company, said on Monday.

The mine, owned by First Quantum Minerals ( FQVLF ), has been

under dispute since November when protests led to the mine's

closure.

The new government, led since July by President Jose Raul

Mulino, has said the future of the mine - which accounted for 1%

of global copper output and 5% of Panama's GDP - will be decided

next year.

"At the end of the day, it is the Panamanian government that

has to decide what it wants to do with this asset, and we of

course, stand available to be considered as a potential partner

sometime in the future," Bristow told Reuters at his Toronto

office.

First Quantum initiated proceedings last year against Panama

at the International Court of Arbitration in Florida, seeking

$20 billion over the mine shut-down.

First Quantum and the Panamanian government did not

immediately respond to requests for comment.

Even as demand for copper assets heats up among big miners,

Bristow said Barrick will take a conservative approach to

deal-making and remains wary of paying a premium, despite a

recent surge in copper prices.

"We always say, 'be careful about paying at the top of the

market,'" Bristow said.

Some of the biggest copper miners viewed by bankers and

industry insiders as potential acquisition targets are Anglo

American and Teck Resources ( TECK ).

BHP's failed bid to acquire Anglo American for $49

billion and Lundin Mining's ( LUNMF ) recent joint venture with

BHP have spurred expectations of more big-ticket copper deals.

Teck's controlling shareholders, Norman Keevil and Sumitomo

Metal Mining Co, rejected last year a hostile bid from Glencore ( GLCNF )

. Teck later spun off its coal assets to Glencore ( GLCNF ) for

C$8.9 billion and said it would focus on copper.

Bristow said Barrick reviews everything it considers

world-class copper and gold assets and that it had looked at

Teck, but added that its share structure could be a hindrance to

any deal.

"We have a strong balance sheet, we have no real debt, and

we are Canadian. So that is also important," said Bristow.

Teck has a dual class share structure with multiple voting

rights attached to its class-A common shares, the majority of

which are controlled by Keevil and Sumitomo.

Bristow noted that Teck's dual-share structure sunsets in

four years, so there is time to think through options.

Teck said the company does not comment on market rumors or

speculation.