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Report: Glencore taps UBS as adviser for Cobar copper mine

Glencore PLC tapped investment bank UBS as an adviser for the Cobar copper mine in New South Wales, Australia, The Australian reported Aug. 21, without citing sources.

The move has led to speculation that the CSA mine at Cobar will be up for sale again after a US$575 million deal with Aeris Resources Ltd. fell through in April.

Sources close to the mining giant have denied that CSA is up for sale.

A potential sale is expected to fetch hundreds of millions of dollars for the asset, which annually produces over 1.1 million tonnes of copper ore and 185,000 tonnes of copper concentrate, according to the report.