Glencore Xstrata Plc Chief Executive Officer Ivan Glasenberg said the world’s fourth-biggest mining company remains in talks with a Chinese bidder for an asset that’s been valued at more than $5 billion.
A group led by China Minmetals Corp. is nearing an agreement to purchase Glencore Xstrata Plc’s Las Bambas copper project in Peru for more than $5 billion, according to people with knowledge of the matter.
Mauritania granted an iron-mining license to Tazadit Underground Mines Co., a joint venture between China Minmetals Corp. and state-owned Societe Nationale Industrielle et Miniere, Agence Mauritanienne d’Information reported.
China Minmetals Corp., the nation’s biggest state-owned metals trader, said the recent drop in share valuations of global mining companies is throwing up “a lot of opportunities” for potential acquisitions.
HSBC Holdings Plc’s China unit was hired as part of a group of banks to manage a sale of 3 billion yuan of 365-day bonds for China Minmetals Corp., according to a prospectus posted on Chinamoney.com.cn, a website of the China Foreign Exchange Trade System.