Newmont joins race for Glencore's Las Bambas mine -FT

Reuters

Oct 1 (Reuters) - Newmont Mining Corp the biggestgold miner in the United States, has joined the race forGlencore Xstrata's copper mining project in Peru, theFinancial Times reported in its Tuesday edition.

Newmont's Chief Executive Gary Goldberg told the FinancialTimes that Glencore's Las Bambas mine was "an interestingprospect".

"The thing that is interesting is that it is further downthe development path, it is closer to production," Goldberg toldthe newspaper.

"Clearly we wouldn't do that on our own. We would look atdoing something with other partners," he was quoted as saying.

A spokesman for Newmont Mining said the company does notcomment on rumors.

Glencore agreed to sell Las Bambas earlier this year to meetdemands from China's antitrust authorities after its takeover ofmining group Xstrata. The regulator feared the tie-up handed thenewly formed commodities powerhouse too much clout in copper.

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