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GLEN Glencore Plc

469.50
0.90 (0.19%)
26 Apr 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Glencore Plc LSE:GLEN London Ordinary Share JE00B4T3BW64 ORD USD0.01
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.90 0.19% 469.50 469.40 469.50 477.20 468.85 474.35 23,935,789 16:35:18
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Nonmetallic Mineral Pds, Nec 217.83B 4.28B 0.3508 13.38 57.28B

Evolution Strikes Deal With Glencore to Buy Output from Australian Mine

24/08/2016 12:38am

Dow Jones News


Glencore (LSE:GLEN)
Historical Stock Chart


From Apr 2019 to Apr 2024

Click Here for more Glencore Charts.
   By Rhiannon Hoyle 
 

SYDNEY--Glencore PLC (GLEN.LN) has struck a deal with Australian gold miner Evolution Mining Ltd. (EVN.AU) worth 880 million Australian dollars (US$670 million) that will entitle Evolution to all of the gold production and some of the silver and copper output from one of its Australian mines.

Evolution has agreed to buy a 30% economic stake in the Ernest Henry mine in northwest Queensland state that will entitle it to 30% of future copper and silver output, and 100% of future gold production, from an agreed area around the mine, the companies said in separate statements.

Evolution said it intends to raise roughly A$401 million through an accelerated renounceable entitlement offer to partly fund the purchase.

Glencore said the deal is part of its plan to reduce its debt pile.

 

Write to Rhiannon Hoyle at rhiannon.hoyle@wsj.com

 

(END) Dow Jones Newswires

August 23, 2016 19:23 ET (23:23 GMT)

Copyright (c) 2016 Dow Jones & Company, Inc.

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