Peru's Minsur selling Brazilian miner to China's CNMC
Peruvian polymetallic miner Minsur signed an agreement through its subsidiary Minera Latinoamericana to sell Brazil’s Mineração Taboca to China’s CNMC Trade Company Limited for US$340mn.
In a statement sent to securities regulator SMV, Minsur said the sale is subject to the usual conditions for this type of transaction, the statement said.
Taboca operates the Pitinga tin, niobium and tantalum mine in Amazonas state and owns the Pirapora smelter in São Paulo, where its corporate building is located.
According to its financial statements, Taboca produced more than 9,000t of tin in January to September and generated revenues of US$214mn. Net profit was US$9.7mn.
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