Glencore, Mick Davis among suitors of Anglo's Chile mines - sources
* Warburg Pincus, Lundin also interested
* A smaller outfit is more likely to buy- source
* Copper has bright outlook as supply growth is constrained
By Silvia Antonioli and Anjuli Davies
LONDON, Nov 14 (Reuters) - Commodity group Glencore and X2, a company set up by former Xstrata boss Mick Davis, are among the suitors of the Chilean copper assets put up for sale by global miner Anglo American, industry and banking sources said this week.
The assets, which together could fetch up to $1 billion according to two banking sources, have also attracted the interest of private equity firm Warburg Pincus and mining companies Lundin and Nevsun Resources, the sources added.
London-listed Anglo American has mandated Morgan Stanley and Goldman Sachs, according to sources, to sell its mines Mantos Blancos, Mantoverde, its 50.1 percent stake in the El Soldado mine and the Chagres smelter, all in Chile. The process however has only just begun and a sale is not expected until next year.
After an assets review last year, Anglo American said it would divest assets that did not meet its return criteria.
The smallest of the five global diversified mining companies is aiming to boost its return on capital employed to at least 15 percent by 2016, from 11 percent last year. Continued...