Canadian miner Teck hires Barclays to sell Peru mine stake: sources

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Canadian miner Teck hires Barclays to sell Peru mine stake: sources
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Canada's Teck Resources Ltd has hired Barclays to sell all of its 80% stake...

) to sell all of its 80% stake in its Zafranal copper asset in Peru, as the diversified miner accelerates efforts to exit advanced projects and focus on its massive Chilean expansion, two banking sources told Reuters on Wednesday.

However, the project would need a further injection of more than $1 billion before it can start production, the source said. Japan’s Mitsubishi Materials Corp , which owns the remaining 20% of Zafranal, was also not immediately available to comment.Vancouver-based Teck last year said it would move forward with its $4.7 billion Quebrada Blanca phase two copper project in Chile.

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