Glencore to Close $475 Mln Mina Justa Deal in Oct

Jul. 18, 2011 02:58PM PST

Reuters reports that Glencore (LON:GLEN) expects to close its $475 million acquisition of Peru’s Mina Justa project in October.

The market news is quoted as saying,

Hong Kong-listed CST Mining Group announced last month it had sold its CST Resources unit to Glencore. CST Resources indirectly owns 70 percent of Marcobre, the sole owner of the Mina Justa project, which has a resource of 413.3 million tonnes with 0.79 percent copper.

Glencore’s head of zinc, copper and lead said Mina Justa complemented Glencore’s existing mining operations in Peru.

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