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

|About: Glencore Plc (GLCNF)|By:, SA News Editor

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.