Metminco sells stake in Peruvian asset

Dual-listed Metminco has agreed to sell its 49% interest in the Los Calatos copper project, in Peru, to CD Capital Natural Resources Fund III for $5-million. Metminco told shareholders on Wednesday that the sale of the Los Calatos interest was a repositioning of the company towards becoming a gold producer in the near term, with the sale to provide funding for the ongoing development of the Miraflores gold project, in Colombia.