Glencore International Plc ended a proposal to buy a majority stake in a South American copper project for USD 475 million.

CST Mining Group Limited said that Glencore terminated the deal to buy a 70% stake in the Mina Justa project in Peru because it couldn’t reach agreement with JV partner Marcobre SAC. The company will continue to explore its options in relation to the Mina Justa project.

It said that Glencore had agreed to buy CST Resources Limited a CST unit that owns 70% of Marcobre.

(Sourced from Bloomberg.net)