Mumbai, Sep 11 - Sterlite Industries, with interest in non-ferrous metals and mining, Friday said it has revised its offer for purchase of US-based copper miner Asarco to $2.56 billion from its earlier bid of $2.13 billion.

'After extensive discussion and review, in order to provide full cash payment to asbestos creditors, Sterlite increased its offer from $2.13 billion to $2.56 billion cash,' the company said in a regulatory statement.

The increase was to allow late and subordinate claims and to provide surplus cash after closing for the smooth continued operations of Asarco, Sterlite said.

The company, part of Anil Agarwal's Vedanta Group, last month had also hiked its offer by $500 million to purchase the assets of Asarco, the Texas-based bankrupt miner, smelter and copper refiner.

Sterlite's move follows an announcement made by Mexican mining major Grupo Mexico that it raised its offer to buy Asarco to $2.2 billion in cash along with $280 million note.

The company offered $2.6 billion for Asarco in 2008. But it walked out of the deal as the copper prices collapsed. The company returned with a new offer of $1.7 billion in March 2009.