>>> Glencore's CSA copper mine draws interest from Zijin

Glencore's CSA copper mine draws interest from Zijin 

China’s Zijin is said to be eyeing Glencore’s [LON: GLEN] CSA copper mine in New South Wales (NSW), The Australian reported.

According to the unsourced report in the paper’s Dataroom, OZ Minerals [ASX: OZL], PanAust [ASX: PNA], Sandfire Resources [ASX: SFR], and China Moly are also believed to be interested in CSA, which could sell for several hundred million dollars.

The paper noted OZ Minerals is considered one of the most logical buyers due to its existing focus on copper.

Bank of America Merrill Lynch and UBS are working with Glencore on the sale process. Glencore is eager to reduce its USD 10bn debt burden, the article noted.

Zijin is also targeting Glencore’s more valuable Lomas Bayas mine, which is located in Chile, it added.

A previous report noted that BHP Billiton [ASX: BHP, LON: BLT], South32 [ASX: S32] and Antofagasta [LON: ANTO] could be interested in Lomas Bayas.

The Australian, previously reported intelligence

>>> What to look at this week end - 31st of Oct. & 1st of Nov.

Weekly Perf.
Dow +0.10% SPX +0.20% Nasdaq+0.43% Russell-0.36% Nikkei+1.37% Hang Seng -2.21% Shanghai-0.88% Brazil-3.63%
EuroStoxx -0.22% EuroStoxx 600-0.50% FTSE-1.29% CAC -0.53% Dax+0.52% Ibex-1.10% MIB-1.29% SMI+0.32%
US stocks saw their fifth consecutive week of gains, with the S&P500 almost filling the gap from the August meltdown and coming to within 50 points of the all-time highs seen back in May. The Fed stood pat on rates, as expected, although UST yields rose to one-month highs later in the week as markets absorbed the message that rate liftoff could come in December. China waffled on setting a specific 2016 GDP target at the 13th plenum, deciding instead to adopt more flexible economic policy goals. In Washington, outgoing House Speaker Boehner concluded a two-year budget and debt ceiling deal before handing the baton to Paul Ryan, who opened his speakership by striking a more conciliatory tone, boding well for policy success in the future. For the week, the DJIA added 0.1%, the S&P500 rose 0.2% and the Nasdaq grew 0.4%, closing out their best month in four years with the major indices each up more than 8% in October.

Macro :
- Greek Banks Need Less Capital Than Expected: Germany’s Spahn
- China Factory Gauge Signals Contraction Continued a Third Month

Keep an eye on :
- AIR FP : Boeing May Match Airbus on Single-Aisle Output of ~60/Mo.: Rtrs
- AIR FP : Airbus Delays Decision on A380 Modernization, Handelsblatt Says
- ALPHA GA : Alpha Bank Has EU2.74b Total Capital Shortfall in ECB Test
- BNP FP : BNP CEO Says New Rules May Force Banks to Raise Capital: Figaro
- BN FP : Danone’s Cow & Gate Recalls Muesli Batch Sold in U.K., Ireland
- CBK GY : Commerzbank Says CEO Martin Blessing Won’t Extend Contract
- DSY FP :
- EUROB GA : Eurobank Has EU2.12b Total Capital Shortfall in ECB Test
- MC FP : Sephora Said to Plan Opening Stores in Iran in 2016: Reuters
- RR/ LN : Rolls-Royce Shifts Work for Biggest-ever Order Back to Britain
- TPEIR GA : Piraeus Bank Has EU4.93b Total Capital Shortfall in ECB Test
- TIT IM : Italy Regulator Seeks Info on Niel-Telecom Italia: Ansa
- TEL NO : Telenor May Face New Hearing on VimpelCom and Uzbekistan: NRK
- VIV FP : Vivendi CEO Says Co. Didn’t Act in Concert With Niel: Corriere
- VOD LN : Vodafone U.K. Says Attempt Made to Access Some Customer Accounts
- VOW3 GY : Volkswagen Expects to Recall Diesel Vehicles in China in 1Q 2016