The deal has been reached for $5.85 billion cash between Glencore-Xstrata and Minmetals and others.

Glencore will receive about $5.85 billion in cash upon completion of the deal. In addition, all capital expenditure and development costs since the beginning of the year until the closure of the deal will also be payable by the consortium.
Capital expenditure and other costs incurred since the start of the year were about $400 million as of March 31.

Development of Las Bambas was about 56 percent complete at the end of last year and there’s about $2.4 billion left to be spent on the site, Glencore said last month. It will cost an estimated $5.9 billion in total, Glencore Chief Financial Officer Steven Kalmin said in September. The mine is slated to start production in 2015.

There’s 950 million tons of ore reserves at Las Bambas at 0.73 percent copper, Glencore said in February. The mine currently has an estimated life of 23 years though there’s potential to add further reserves, it said.

This should give us a good comparable for our share of SC.