UPDATE 1-Canadian miner Teck hires Barclays to sell Peru mine stake-sources
UPDATE 1-Canadian miner Teck hires Barclays to sell Peru mine stake-sources. Nov 20 (Reuters) - Canada's Teck Resources Ltd has hired Barclays to sell all of its 80% stake in its Zafranal copper asset in Peru, as the diversified miner accelerates efforts to exit advanced projects and focus on its massive Chilean expansion, two banking sources told Reuters on Wednesday. Teck is likely to sell or seek a partner for Zafranal, Chief Executive Officer Don Lindsay has said. The company and its advisors are sounding out interest from mining firms already operating in Peru for the copper-gold project that could fetch up to $500 million, one of the sources said. However, the project would need a further injection of more than $1 billion before it can start production, the source said.
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