Glencore to Relinquish Colombian Mining Contracts
By Adriano Marchese
Glencore PLC said Thursday that it will relinquish mining
contracts back to the government of Colombia following the
rejection of proposals for mines to stay in maintenance mode.
The FTSE 100 Anglo-Swiss mining and oil company said that
subsidiary Prodeco will begin the process of handing its mining
contracts back to the state by way of the National Mining
The agency had previously declined Prodeco's request to keep the
mines of Calenturitas and La Jagua in care and maintenance.
"The decision to relinquish the mining contracts was not taken
lightly and is a disappointing outcome," the company said
Glencore said that Prodeco will engage with its employees,
contractors and the host communities on the effects of
relinquishing the titles.
Write to Adriano Marchese at firstname.lastname@example.org
(END) Dow Jones Newswires
February 04, 2021 09:51 ET (14:51 GMT)
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