Seeking Alpha

Glencore buys additional 14.5% in Mutanda Mining for $430M

  • Glencore (GLCNF, GLNCY) acquires the remaining 14.5% interest in Mutanda Mining Sarl held by High Grade Minerals for $430M, taking its stake to 69%.
  • Mutanda is a high-grade copper and cobalt producer, with its operations located in the Congolese province of Katanga; as of October, its copper production rate was 190K tons/year.
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