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China group buys $6bln Glencore Peru copper mine

Posted on 14 April 2014

A Chinese consortium is buying Glencore Xstrata’s copper mine in Peru in a $6bn (£3.6bn) all-cash deal, marking one of China’s largest mining acquisitions. The consortium is led by MMG Limited and includes China’s Citic Metal.
The acquisition is subject to regulatory approvals but all parties expect the deal to be done by the end of September. Analysts expect Glencore to use the proceeds from the sale to reduce its debt………………………………………..Full Article: Source


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