Minmetals will purchase Pilbara Blend lump ore that will delivered through 12 cargoes and priced at around $144.94 million.
Minmetals Mining News
This is the first statement in which MMG has confirmed its intention to buy Las Bambas.
Las Bambas copper mine, located in Peru, is expected to fetch between $5 and $6 billion.
Peruvian copper mine Las Bambas expected to fetch $5-6 billion.
Despite the gloomy results, the commodities giant revenues for the year jumped 9% to $232.6 billion
Analysts question the remaining bidder's ability to finance the project.
China's Minmetals finds IOC too pricey at $3.5 billion according to a new report.
China's state-owned Minmetals enters bidding for $5.6 billion project.