Glencore to Sell CSA Copper Mine in Australia for $1 Billion
March 17 2022 - 7:19AM
Dow Jones News
By Jaime Llinares Taboada
Glencore PLC said Thursday that it has agreed to sell its CSA
copper mine in Australia to Metals Acquisition Corp. for $1.05
billion in cash.
The mining group said the deal includes a $50 million equity
stake in MAC and a 1.5% net smelter return royalty.
The parties have also agreed to enter into an offtake agreement
for Glencore to buy 100% of the copper concentrate produced at the
CSA mine.
MAC is a special purpose acquisition company listed on the New
York Stock Exchange.
Write to Jaime Llinares Taboada at jaime.llinares@wsj.com;
@JaimeLlinaresT
(END) Dow Jones Newswires
March 17, 2022 07:04 ET (11:04 GMT)
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