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| Name | Symbol | Market | Type |
|---|---|---|---|
| Glencore Plc (PK) | USOTC:GLNCY | OTCMarkets | Depository Receipt |
| Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| -0.15 | -1.28% | 11.54 | 11.40 | 11.55 | 11.55 | 11.42 | 11.47 | 308,943 | 21:14:29 |
From Jun 2023 to Jun 2024
By Christian Moess Laursen
Glencore said Friday that it has closed the sale of its 100% stake in Cobar Management, owner of the Cobar copper mine in New South Wales in Australia, to Metals Acquisition for $775 million in cash and $100 million in shares.
The Anglo-Swiss commodity miner said the transaction will result in it holding 20.6% of shares in Metals Acquisition.
Metals Acquisition will assume ownership and full operational control of the mine and Glencore will offtake 100% of the copper concentrate produced at Cobar Management.
"The sale of [the mine] is consistent with delivering our strategy of simplifying and aligning our global portfolio to focus on lower-cost, long-life assets," Glencore said.
Write to Christian Moess Laursen at christian.moess@wsj.com
(END) Dow Jones Newswires
June 16, 2023 02:30 ET (06:30 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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