Minsur Adds to Mine Equity

Peru’s Minsur has injected an additional $100m into its Cumbres Andinas subsidiary, via the issue of new shares, to help finance the acquisition of a stake in the Marcobre copper project, it says. The funds follow a $300m equity issuance announced last week for the same purpose. After the transaction, Minsur will hold 99.96% of Cumbres’ shares. It is already putting together a $200m loan to help with the purchase. In April, Minsur agreed to acquire 70% of Marcobre from Hong Kong’s CST Mining for $505m.