CST Mining hires Morgan Stanley on Peru project sale

Thu, Jan 12 09:52 AM EST HONG KONG, Jan 12 (Reuters) - CST Mining Group said on Thursday it had hired Morgan Stanley to advise on the sale of a Peruvian copper project. CST said in a regulatory filing the potential sale of its interest in the Mina Justa Project in southern Peru would need to be approved by its board and that there was no guarantee a sale would occur. The company will continue to develop the project while it considers its options. The decision to hire Morgan Stanley comes after a failed bid to sell the stake to Glencore International Plc for $475 mln late last year. Glencore agreed in June to buy CST Mining's CST Resources unit for $475 million to gain control of Mina Justa. The deal collapsed in November after CST Mining failed to meet necessary conditions of the deal.