Xstrata’s Davis Says Peru Mine Sale Brings ‘Surprise, Sadness’
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Mick Davis, chief executive officer of Xstrata Plc, said the sale of the Las Bambas copper mine, a step required by China for the takeover by Glencore International Plc to proceed, prompts “surprise and sadness.”
“It is hard for all those involved in its inception and who would have liked to see the project ramp up into operation, however it is a necessary step that we must accept,” Davis told staff this week in a letter, seen by Bloomberg News.