Newmont, Blackstone part of group looking at $6B copper mine

Teck Resources (TCK), Newmont Mining (NEM), Blackstone (BX) and Magris Resources, a firm led by former Barrick CEO Aaron Regent, have joined together to bid for Glencore Xstrata's (GLCNF) Las Bambas copper mine in Peru.

Initial bids for the project came it at $6B, with the next round due in December.

The frontrunner has so far been China's Minmetals (MMETY), especially given the country's need for copper.

Glencore Xstrata is selling Las Bambas as part of the conditions that China gave for approving Glencore's merger with Xstrata.

From other sites
Comments (1)
  • john001
    , contributor
    Comments (1214) | Send Message
    Fort Hills oilsands and now this. Is Teck taking on too much debt?
    27 Nov 2013, 09:18 AM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs