Las Bambas notches up Peru record with $6bn sale

Las Bambas notches up Peru record with $6bn sale

M&A

A consortium led by Hong Kong-based mining firm MMG has agreed to pay Glencore Xstrata more than $5.85bn in cash for the Las Bambas copper mine in Peru. The deal is the largest ever M&A transaction in Peru, and the second-biggest acquisition by a Chinese company in Latin America. The group will also pay the non-producing mine’s capex and other costs from January — so far around $400m. MMG is majority owned by China Minmetals. Chinese natural resources developer Guoxin and the mining subsidiary o

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