- Glencore Xstrata (GLCNF, GLNCY) is close to reaching an agreement on the multibillion-dollar sale of its Las Bambas copper project in Peru to a Chinese consortium and could announce the deal as early as tomorrow, WSJ reports.
- The management of both Glencore and China Minmetals, the state-controlled copper company leading the Chinese consortium, reportedly are set for a final meeting Tuesday in London with an aim toward signing an agreement.
- China accounts for ~40% of global copper demand, and Las Bambas would give it greater control over the global market; Glencore has forecast the mine's annual output for the first 10 years at 460K metric tons of copper in concentrate.
From other sites
at CNBC.com (Jun 19, 2014)
at CNBC.com (May 29, 2014)
at CNBC.com (May 5, 2014)
at CNBC.com (Mar 10, 2014)
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