Glencore Sells Peru Mine To Chinese Group For $5.85 Billion

Glencore Xstrata PLC (LON:GLEN) said Sunday it has sold its interest in the Las Bambas copper mine in Peru to a Chinese consortium led by Hong Kong-listed MMG Ltd (HKG:1208).

The deal follows months of tortuous negotiations over how much the copper project is worth.

Glencore sale aligns with Chinese regulator’s conditions

In May, a mega-merger between Swiss commodities giant Glencore and Xstrata, a Switzerland-based mining company, was announced. The newly-merged mining giant Glencore Xstrata PLC (LON:GLEN) announced that its fusion would create synergies allowing it...