The company has appointed BMO Capital Markets and Credit Suisse Securities (Europe) as financial advisors for the process.
The latest move is in line with conditions imposed by China’s anti-trust regulator at the time of approval the merger of Glencore and Xstrata in April 2013.
During the time of merger, Glencore has agreed to sell the project to a buyer approved by China’s Ministry of Commerce. The sale agreement must be signed by the end of Q3 2014 and must be concluded by the end of H1 2015.
The commodities giant said that several international mining firms and potential investors have expressed interest in the Las Bambas project.
Las Bambas is a copper mine project located near Cusco in Peru with over 10.5 million tons of copper resources. The project, which is in advanced phase of construction, is scheduled to start operations in 2015.
