A PYMNTS Company

China/Peru: Bidding opens for Glencore’s Peruvian mine as part of Chinese concessions

By  |  July 17, 2013

Mining giant Glencore Xstrata has reportedly begun the process of selling its copper mine in Peru to fulfill concessions made to Chinese regulators in order to earn merger approval. Some believe the sale could raise as much as $6 billion. The company merged the mining and trading businesses last April; analysts say the divesture is a smart move as the Peruvian mine was not as profitable of some of its other mining assets. If the company cannot sell the mine before a September 2014 deadline, however, it will be required to auction off one of its more successful copper mines around the globe.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    Full Content: City AM

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.