CST Mining vice chairman Owen Hegarty was reported by Bloomberg as saying that they will try to close the deal as soon as they can.
"It’s pretty much in the stage of people doing their evaluations," said Hegarty.
The Mina Justa deposit is being developed by Marcobre which is 70% owned by CST Mining.
The project has a resource base of more than 3 million tonnes of contained copper and potential for further resources in and around the existing Mina Justa deposit and on Marcobre’s 33,000 hectares of mineral rights.
The Hong Kong-based copper producer has appointed Morgan Stanley as financial adviser for the sale last month.
Last November, Glencore International terminated a $475m proposal to buy a 70% interest in Marcobre.
The deal fell as CST Mining’s joint venture partner Marcobre and Glencore could not satisfy all the conditions.
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