Glencore to Sell Ernest Henry Mining Copper-Gold Mine in Queensland for $730 Million
November 17 2021 - 3:18AM
Dow Jones News
By Jaime Llinares Taboada
Glencore PLC said Wednesday that it has agreed on the sale of
its Ernest Henry Mining copper-gold mine in Queensland, Australia,
to Evolution Mining Ltd. for 1 billion Australian dollars ($730.3
million).
The FTSE 100 commodity trading and mining company also reached a
deal to offtake all copper concentrate produced at EHM, and said it
will continue to be among Australia's leading producers and
exporters of green metals.
In addition, Glencore said it will increase its focus on its
other lower-cost, long-life copper assets, such as those in Africa
and South America.
The transaction is expected to close in early January.
Write to Jaime Llinares Taboada at jaime.llinares@wsj.com;
@JaimeLlinaresT
(END) Dow Jones Newswires
November 17, 2021 03:03 ET (08:03 GMT)
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