TIDMGLEN
RNS Number : 5554X
Glencore PLC
06 January 2022
Glencore plc
Baar, Switzerland / Sydney, Australia
6 January 2022
Glencore closes sale of Ernest Henry Mine
Glencore and Evolution Mining Limited (Evolution) have today
closed the sale and purchase of Glencore's 100% interest in Ernest
Henry Mining Pty Ltd, the owner of the Ernest Henry Mining (EHM)
copper-gold mine in Queensland, Australia.
Glencore has received A$800 million and will receive a further
A$200 million in 12 months time.
In addition, by reason of Evolution's acquisition of Ernest
Henry, from today, all agreements implementing the economic joint
ventures between Glencore and Evolution entered into on 23 August,
2016 have ended and Glencore has no further obligation to deliver
any gold, copper concentrate or other metals under these agreements
from 1 January 2022. Evolution also assumes all rehabilitation
obligations and liabilities and will replace Glencore's
rehabilitation bonds.
Glencore will offtake 100% of the copper concentrate produced at
EHM.
Glencore will continue to be among Australia's leading producers
and exporters of the green metals that underpin the global
transition to a low-carbon future.
For further information please contact:
Investors
Martin Fewings t: +41 41 709 28 80 m: +41 79 737 56 42 martin.fewings@glencore.com
Media
Charles Watenphul t: +41 41 709 24 62 m: +41 79 904 33 20 charles.watenphul@glencore.com
Francis de Rosa t: +61 417 074 751 m: +61 417 074 751 francis.de.rosa@glencore.com
www.glencore.com
Glencore LEI: 2138002658CPO9NBH955
Notes for Editors
Glencore
Glencore is one of the world's largest global diversified
natural resource companies and a major producer and marketer of
more than 60 responsibly-sourced commodities that advance everyday
life. The Group's operations comprise around 150 mining and
metallurgical sites and oil production assets.
With a strong footprint in over 35 countries in both established
and emerging regions for natural resources, Glencore's industrial
activities are supported by a global network of more than 30
marketing offices. Glencore's customers are industrial consumers,
such as those in the automotive, steel, power generation, battery
manufacturing and oil sectors. We also provide financing, logistics
and other services to producers and consumers of commodities.
Glencore's companies employ around 135,000 people, including
contractors.
Glencore is proud to be a member of the Voluntary Principles on
Security and Human Rights and the International Council on Mining
and Metals. We are an active participant in the Extractive
Industries Transparency Initiative. Our ambition is to be a net
zero total emissions company by 2050.
Glencore Australia
In Australia, Glencore produces coal, copper, cobalt, nickel,
zinc, lead, silver and gold from 25 mining operations. We also
operate metals processing assets in Queensland, New South Wales,
Western Australia and the Northern Territory, including metals
smelters, concentrators and refineries.
We are among Australia's largest producers and marketers of
natural resources, connecting Australian resources with industrial
customers around the world. Through our diverse portfolio, we
responsibly supply the resources that advance everyday life.
We employ approximately 17,000 people in Australia and in 2020
contributed over $13.8 billion to the regional, state and national
economies. This included spend of $9.5 billion with 7,890
businesses across the country, as well as $2.1 billion in
government tax and royalty payments.
We are committed to providing a safe, inclusive and respectful
workplace for our people, to respecting the environment, to
engaging openly and constructively with the Traditional Owners on
whose lands we operate and to bringing value to local
communities.
www.facebook.com/Glencore
www.flickr.com/photos/glencore
www.instagram.com/glencoreplc
www.linkedin.com/company/8518
www.slideshare.net/glencore
www.twitter.com/glencore
www.youtube.com/glencorevideos
Disclaimer
The companies in which Glencore plc directly and indirectly has
an interest are separate and distinct legal entities. In this
document, "Glencore", "Glencore group" and "Group" are used for
convenience only where references are made to Glencore plc and its
subsidiaries in general. These collective expressions are used for
ease of reference only and do not imply any other relationship
between the companies. Likewise, the words "we", "us" and "our" are
also used to refer collectively to members of the Group or to those
who work for them. These expressions are also used where no useful
purpose is served by identifying the particular company or
companies.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
DISSSIFMIEESESF
(END) Dow Jones Newswires
January 06, 2022 01:59 ET (06:59 GMT)
Glencore (LSE:GLEN)
Historical Stock Chart
From Apr 2024 to May 2024
Glencore (LSE:GLEN)
Historical Stock Chart
From May 2023 to May 2024