Glencore Abandons Peruvian Mine Deal

Glencore Abandons Peruvian Mine Deal

Peru Europe M&A

Swiss commodities trading company Glencore has withdrawn a $475m offer for CST Mining Group’s interest in Peruvian copper project Mina Justa, following a failure to agree on an offtake deal, say people close to the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% stake in the owner of Mina Justa, Marcobre, pending a number of conditions that included giving Glencore access to the mine’s future production. Declining to provide further details on valuations

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