BEIJING, April 16 China's Ministry of Commerce
on Tuesday conditionally approved commodities trader Glencore's
multi-billion dollar acquisition of miner Xstrata Plc
Glencore has been waiting for several months for China, the
biggest buyer of the materials it trades and mines, to give the
go-ahead before it can complete its $35 billion acquisition of
miner Xstrata, the largest deal in the sector to date.
Glencore would have to begin selling off assets in its Las
Bambas copper mine in Peru within three months, the ministry
said in a statement on its website.
Glencore should also provide certain amounts of copper, zinc
and lead cencentrates to their Chinese clients every year during
the period of 2013 and 2020 as another condition of the
approval, the statement said.