Xiana Mining agrees Bluequest financing for $25 million Glencore copper mine buy

Xiana Mining will acquire Glencore’s Minera Altos De Punitaqui copper mine in Peru for $25 million, after sealing a financing package with Swiss trading firm Bluequest.

Vancouver-headquartered Xiana agreed to buy the mine after signing terms in May, when London Metal Exchange three-month copper prices rose above $7,000 per tonne.

But a combination of trade-war fears and diminishing mine supply risk has led to a 12% drop since the start...

Published

Archie Hunter

October 31, 2018

13:42 GMT

London