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Glencore Abandons Peruvian Mine Deal

Dec 1, 2011

Swiss commodities trading company Glencore has withdrawn a $475m offer for CST Mining Group’s interest in Peruvian copper project Mina Justa, following a failure to agree on an offtake deal, say people close to the transaction. The global trader agreed on July 18 to buy CST Resources, which holds a 70%...

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There is performance risk that the market is going to have to evaluate and assess. I think that is very healthy for the market because that will enable us to finance a much wider range of projects.

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