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The red metal project has a JORC compliant resource of 413Mt grading 0.79%, and its expected start date is in 2013 with average production of 110,000t/y over a 10-year mine life. The project's expected capex is US$745mn.
Last year, Swiss firm Glencore International (LSE: GLEN) agreed to acquire 70% of Marcobre for US$475mn. However, the deal fell through when Glencore could not reach an agreement for the remaining stake, held by Korean firm LS-Nikko Copper and compatriot state company Kores.
Minsur is a subsidiary of Peru's Brescia group.