Nov 20 (Reuters) - Canada's Teck Resources Ltd
has hired Barclays to sell its entire 80% stake in its
Zafranal copper asset in Peru, as the diversified miner
accelerates efforts to exit advanced projects and focus on its
massive Chilean expansion, two banking sources told Reuters on
Wednesday.
Teck is likely to sell or seek a partner for Zafranal, Chief
Executive Officer Don Lindsay has said.
The company and its advisors are sounding out interest from
mining firms already operating in Peru for the copper-gold
project that could fetch up to $500 million, one of the sources
said.
A representative for Teck said the company does not comment
on speculation. A Barclays representative was not immediately
available for comment. Japan's Mitsubishi Materials Corp
owns the remaining 20% of Zafranal.
Sources declined to be identified as the information on bank
hiring is not public.
(Reporting by Clara Denina in London;
Writing by Jeff Lewis; Editing by Sandra Maler)