WP:Glencore buys Peru copper asset for $475 million
GENEVA (AP) — Commodities giant Glencore says it is buying a majority stake in Peru's Mina Justa copper mine for $475 million.
Swiss-based Glencore International PLC said Monday the purchase of a 70 percent stake in Marcobre SAC from CST Mining Group Limited is subject to inspection of the books and price adjustment.
The deal is expected to be completed in October.
Glencore is flush with cash following a partial public flotation last month that raised over $10 billion.
