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Glencore puts Las Bambas copper project up for sale

Keywords: Tags  Glencore Xtsrata, Las Bambas, Peru copper, sale, MOFCOM, China, Chinalco, merger

LONDON — Glencore Xstrata Plc said “numerous” international miners and investors have expressed interest in buying its Las Bambas copper project in Peru.

The project is now formally up for sale, about three months after China’s ministry of commerce ordered the sale as a condition for approving Glencore’s merger with Xstrata (, April 16).

A “diverse group of international mining companies and potential investors” have expressed interest in the project, Glencore said.
The company has appointed BMO Capital Markets Ltd and Credit Suisse Securities (Europe) to act as financial advisors on the sale process.

In June, AMM sister publication Metal Bulletin reported that Beijing-based Aluminum Corp. of China (Chinalco) had expressed interest in buying the copper project (, June 27).

Las Bambas is a copper mine project located near Cusco in Peru with over 10.5 million tonnes of copper resources.
The project is expected to start production in 2015.

A version of this article was first published in AMM sister publication Metal Bulletin.

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