MMG-led consortium advances discussions over Las Bambas

MMG-led consortium advances discussions over Las Bambas

M&A

Hong Kong-based mining firm MMG is discussing an acquisition of the Las Bambas copper mine in Peru with Glencore Xstrata, but it has not yet signed a binding agreement, the company said on Wednesday. Chinese natural resources developer Guoxin and the mining subsidiary of Chinese state-owned conglomerate Citic are part of the consortium discussing the purchase, MMG said in a regulatory filing. Credicorp Capital analysts estimate the deal could be worth $5bn to $6bn, and is likely to be one of the

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