Thursday, August 28, 2014   

MMG has Glencore’s Peru copper mine in its sights
(03-19 19:34)

MMG Ltd, the overseas arm of Chinese state-owned Minmetals, confirmed it was in talks with mining giant Glencore Xstrata to buy its Las Bambas copper mine project in Peru.
But Australia-based MMG admitted there was no guarantee a deal could be agreed.
The company is part of a consortium bidding for the project which includes Hong Kong-registered Guoxin International Investment Corporation and China's CITIC Metal.
In a statement to the Hong Kong Stock Exchange, MMG said discussions were taking place with Glencore International AG – a subsidiary of Glencore Xstrata – about the acquisition of the mine.
Swiss commodities trader Glencore secured Chinese backing for its May 2013 merger with mining giant Xstrata by agreeing to sell its interest in the Las Bambas copper mine project by the end of this September.
The Las Bambas copper mines are not yet operational.—AFP


   
Other Business breaking news:
Hang Seng ends lower (08-27 16:30)
Rusal returns to quarterly profit (08-27 16:16)
Fonterra steps back into China market (08-27 14:29)
Nikkei closes flat (08-27 14:22)
Burger King buys Tim Hortons (08-27 12:52)
Air China shares up despite profit drop for first half (08-27 12:29)
Nikkei flat by lunch (08-27 10:43)
Hong Kong stocks opens higher (08-27 10:27)
China investigating managers at VW joint venture (08-26 19:03)
More yuan payments in Europe (08-26 17:51)

More breaking news >>

© 2014 The Standard, The Standard Newspapers Publishing Ltd.
Contact Us | About Us | Newsfeeds | Subscriptions | Print Ad. | Online Ad. | Street Pts

 


Home | Top News | Local | Business | China | ViewPoint | CityTalk | World | Sports | People | Central Station | Spree | Features

The Standard

Trademark and Copyright Notice: Copyright 2014, The Standard Newspaper Publishing Ltd., and its related entities. All rights reserved.  Use in whole or part of this site's content is prohibited.   Use of this Web site assumes acceptance of the
Terms of Use, Privacy Policy Statement and Copyright Policy.  Please also read our Ethics Statement.