China's MMG confirms in talks to buy Glencore's Peru copper mine

MELBOURNE, March 19 (Reuters) - China's MMG Ltd 1208.HK confirmed on Wednesday it was in talks with Glencore Xstrata

to buy the Las Bambas copper mine in Peru, an acquisition expected to cost more than $5 billion, but said there was no guarantee a deal would be agreed.

MMG, the Australia-based offshore arm of Chinese state-owned Minmetals, said it was bidding alongside state-owned giant CITIC Group and Hong Kong-registered Guoxin International Investment Corp.

"No binding agreement has been reached in connection with the acquisition as of the date of this announcement," MMG said in a statement on Wednesday to the Hong Kong stock exchange.

(Reporting by Sonali Paul; Editing by Stephen Coates)

((Sonali.Paul@thomsonreuters.com)(+61 3 9286 1419)(Reuters Messaging: sonali.paul.thomsonreuters.com@reuters.net))

Keywords: GLENCORE LASBAMBAS/MMG