{"id":700150,"date":"2018-05-17T14:05:10","date_gmt":"2018-05-17T14:05:10","guid":{"rendered":"http:\/\/juniorminingnews.com\/?p=700150"},"modified":"2018-05-17T14:05:10","modified_gmt":"2018-05-17T14:05:10","slug":"anglo-close-to-selling-part-of-stake-in-giant-peruvian-copper-project-2","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=700150","title":{"rendered":"Anglo close to selling part of stake in giant Peruvian copper project"},"content":{"rendered":"

By Cecilia Jamasmie<\/a><\/span> <\/p>\n

Anglo American (LON:AAL) may sell close to 30% of its $5.5-billion Quellaveco project in southern Peru to Japanese companies, including Mitsubishi, which already has a 18% stake in the asset, considered the world’s next major copper mine.<\/p>\n

The miner, which has already invested over $1 billion in Quellaveco since acquiring the property in 1992, had said its board would not make a final investment decision until it has de-risked the project by reducing its 82% holding in the copper asset.<\/p>\n

Chief executive Mark Cutifani told investors last year he wanted to keep at least 51% of Quellaveco, which has the capacity to generate 225,000 tonnes of copper a year, adding he had been \u201cengaging\u201d with potential parties interested in joining the project.<\/p>\n

As an existing partner, Mitsubishi has an option to increase its stake in Quellaveco to 30%, sources familiar with the matter told Reuters<\/em><\/a> on Thursday. The company may have to fend off fellow Japanese trading houses Sumitomo, Mitsui, JX Nippon Mining & Metals and Itochu, all of which are said to be about to present Anglo with a formal offer.<\/p>\n

Quellaveco has the permits needed for its development, but has been stalled since 2013.<\/p>\n

More to come\u2026<\/em><\/p>\n

The post Anglo close to selling part of stake in giant Peruvian copper project<\/a> appeared first on MINING.com<\/a>.<\/p>\n

…read more<\/a> <\/p>\n

From:: Infomine<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

By Cecilia Jamasmie Anglo American (LON:AAL) may sell close to 30% of its $5.5-billion Quellaveco project in southern Peru to Japanese companies, including Mitsubishi, which already has a 18% stake in the asset, considered the world’s next major copper mine. The miner, which has already invested over $1 billion in Quellaveco since acquiring the property […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[360],"tags":[],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/700150"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=700150"}],"version-history":[{"count":0,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/700150\/revisions"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=700150"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=700150"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=700150"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}