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The Mutanda stake is valued at 922 million, and the holding in Torontolisted Katanga is valued at 38 million, according to the statement from Glencore. The deal increases Glencores holding to percent in Katanga. Glencore also take over 130 million in loans Mutanda owed to Fleurette.
Glencore International plc said it would pay US340 million to expand its stake in the Mutanda copper mine, located in Democratic Republic of the Congo''s (DRC) Katanga...
A Mutanda representative attended one of the meetings, Glencore said. Brown says he was forced to sign the 2012 agreement against his will less than two weeks before Glencore announced a 340 million deal to boost its interest in Mutanda to a majority stake. He received a payment of million in compensation at the time, according to the
Glencore buys stakes in Mutanda and Katanga mines valued at 960m Andrew Topf | February 13, 2017 | 1:23 pm Base Metals Battery Metals Africa Cobalt Copper Mutanda mine in the DRC (Photo: Glencore)
Other factors cited included rising input cost (particularly for sulphuric acid) and the imposition of a new mining code which increased royalties on strategic minerals such as cobalt to 10%. In a further update on the mine during its recent Q2 2020 results announcement, Glencore emphasised that the mine would remain shut and would only reopen once the cobalt market improved.
In February 2017, Glencore announced that it had acquired the remaining 31% stake in Mutanda Mining Sarl (Mutanda), which it did not previously own. Following the acquisition, Glencore owns of the shares in Mutanda.
#0183;#32;Commodities trader Glencore has taken majority control of its fastgrowing Mutanda copper operation in Congo with deals worth 480 million,
GLENCORE was considering its strategic options in respect of its Mutanda Mining Company, a producer of copper and cobalt that mines in the Katanga province of the Democratic Republic of Congo (DRC). This was after the Swissbased mining and commodities trading group had received certain incoming press inquiries in relation to the potential acquisition []
Mining Weekly. https: Glencore said on Friday that it was considering options to take a bigger stake in the Mutanda mine, a copper and cobalt mine in the Democratic Republic of Congo.
Glencore increases stake in Mutanda. of the remaining % indirect equity interest in Mutanda Mining Sarl held by High Grade Minerals for a equity interest in Mutanda.
#0183;#32;Mutanda Mining Sarl | 3,358 followers on LinkedIn. Mutanda Mining Sarl is a mining amp; metals company based out of Avenue Songololo, Lubumbashi,
Glencore Increases Stake in Mutanda Mine Investing News Network May 22nd, 2012 The Australian reported that Glencore (LSE:GLEN) has invested for an increased stake in the Mutanda coppercobalt
Mutanda Mining Sarl. Glencore plc Baar, Switzerland 5 January, 2017. Glencore has received certain incoming press enquiries in relation to the potential acquisition of a further stake in Mutanda. Glencore is currently considering its strategic options in connection with Mutanda and a further announcement will be made in due course, if appropriate.
Glencore Increases Stake In Mutanda Mining. Glencore increases stake in mutanda mining the remaining equity in mutanda 31 per cent is held by a subsidiary of fleurette properties the company acquired a 545 per cent interest in mutanda last year receiving at the time a put and call option agreement for the additional 145 per cent stake. More Details
Glencore Xstrata has increased its indirect interest in Mutanda Mining by per cent. (Image source: Wikimedia Commons) Glencore bought the remaining per cent interest in Mutanda Mining held by High Grade Minerals, taking its stake to 69 per cent.
Glencore said on Friday that it was considering options to take a bigger stake in the Mutanda Mine, a copper and cobalt mine in the Democratic Republic of Congo. The global mining company said the
Mutanda produced 27,000 tonnes of cobalt in 2018 along with 200,000 tonnes of copper. The mine will be placed on care and maintenance when 2019 comes to an end. The DRC government has made no
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