Xstrata puts copper project up for sale
Xstrata has put a near-$1bn stake in a Papua New Guinea copper project up for sale, becoming the latest miner to ease back on spending after a slump in commodity prices.
Reuters reported that mining group Xstrata is taking a USD 1.9 billion charge for restructuring its nickel business after metal prices fell, and is taking further charges of USD 545 million for copper smeltering operations in Canada and Chile.