China's MMG Confirms Talks For $5B Glencore Copper Mine

Law360, New York (March 19, 2014, 2:01 PM EDT) -- China's MMG Ltd. on Wednesday confirmed media reports that it's talking with Anglo-Swiss mining colossus Glencore Xstrata about buying the $5.2 billion Las Bambas copper project in Peru, though it hasn't yet reached a deal.

MMG, based in Australia and part of state-owned China Minmetals Corp., told the Hong Kong stock exchange about the negotiations in a brief statement. It is part of a consortium of bidders along with Guoxin International Investment Corp. and CITIC Metal. The future mine would provide China with an important copper...
To view the full article, register now.