Canadian Miner Buys Peru Project

Toronto-based Iberian Minerals is buying a copper mine in Peru from Dutch metals trader Trafigura Beheer. Iberian will pay about $119m in shares for the Condestable project, south of Lima. In the deal, Trafigura increases its stake in Iberian to 40%, from 20%., and maintains a 46% net profit interest from 2011 to 2014. The transaction awaits Trafigura minority shareholder approval.