Glencore Confirms Plan to Sell Bolivian Zinc Assets for $110 Million
October 12 2021 - 11:22AM
Dow Jones News
By Ian Walker
Glencore PLC confirmed Tuesday that it is selling the holding
companies that own its Bolivian zinc assets to Santacruz Silver
Mining Ltd. for up to $110 million.
The Anglo-Swiss commodity trading and mining company said that
it will get $20 million upon completion of the sale, which is
expected within the next three months. The rest will be paid within
four years.
Earlier Tuesday the Wall Street Journal reported that Glencore
was planning to sell a number of zinc assets in Bolivia citing a
person familiar with the matter, as new Chief Executive Gary Nagle
begins a process of streamlining the sprawling commodities
giant.
Write to Ian Walker at ian.walker@wsj.com
(END) Dow Jones Newswires
October 12, 2021 11:07 ET (15:07 GMT)
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