(MENAFN) Las Bambas copper mine in Peru has been recently sold to a Chinese consortium for USD6 billion, giving a sign of strength of China's long-term need for copper, according to Arab News
The copper mine has been bought by MMG Ltd, the Hong Kong-listed offshore arm of China's state-owned Minmetals Corp, from Glencore Xstrata
Glencore is planned to receive about USD5.85 billion in cash upon completion of the deal, compared with analysts' forecasts between USD5 billion and USD6 billion
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