HK Investor Unloads Peru Mine Stake

Peru’s Minsur has agreed to acquire a 70% stake in the Marcobre project from Hong Kong’s CST Mining, for $505m, it says. Marcobre is developing the Mina Justa copper mine in Peru’s Nazca province. The deal, done through the Cumbres Andinas unit, includes a $60m initial payment. The stake in the project comes as a part of Minsur’s expansion plan. Morgan Stanley advised CST on the sale process, which began in January.