Wednesday, April 25, 2012

CST sells Mina Justa for US$505m

Hong Kong-based copper producer CST Mining Group Ltd explained it would sell a 70% stake while in the Mina Justa copper challenge to Peru-based base-metals business Minsur SA, to get a full US$505 million.Stone Crusher

Positioned in southern Peru, Mina Justa has long been believed to carry copper reserves of 163Mt at 0.8%, and annual manufacturing was projected at 110,000t/y more than 11.five many years, comprising fifty,000t/y as cathode and 60,000t/y in concentrates.

The job was the subject of a US$475 million supply from Glencore very last December, however the arrangement was terminated after the commodities giant explained that conditions in the deal were not satisfied. Stone Crusher Machine

CST and Minsur reported that details in the transaction could be launched sooner or later, with Minsur to place a US$50.five million deposit in an escrow account all through the transaction.