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To process this material — and give Mutanda a mine life of 15 years — Glencore would need to invest heavily in new processing equipment. ... signed into law a new mining code that increases ...
Jan 12, 2017· The Democratic Republic of Congo won't stand in the way of Glencore's (LON:GLEN) plans to increase its stake in the Mutanda copper mine, an asset it jointly owns with billionaire mining .
Glencore also indirectly owns 37.5% of Kansuki, a copper and cobalt development project bordering Mutanda covering 185 square kilometres (71 sq mi). In August 2011 Glencore's CEO said the company planned to combine the two properties and to increase its share to over 50%.
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Glencore has today purchased from subsidiaries of Fleurette Properties Limited ("Fleurette") the Fleurette group's remaining 31% stake in Mutanda Mining Sarl (the "Mutanda Shares") and an approximate 10.25% stake in Katanga Mining Limited (the "Katanga Shares").
Mutanda produced 213,300 tonnes of copper and its cobalt production rose almost 50 percent to 24,500 tonnes last year, according to Glencore. The mine is considered one of Glencore's main growth ...
The DRC is home to one of the world's main copper-mining regions: the African Copperbelt. In the DRC, we have a substantial stake in Katanga Mining and wholly own Mutanda Mining, both located in the DR Congo's Katanga province.
Glencore bought the remaining 14.5 per cent interest in Mutanda Mining held by High Grade Minerals, taking its stake to 69 per cent. Mutanda is a high-grade copper and cobalt producer, with its operations located in the province of Katanga, in Congo. The remaining equity in Mutanda – 31 per cent – is held by a subsidiary of Fleurette ...
Glencore has announce that the company has purchased from subsidiaries of Fleurette Properties Ltd the Fleurette group's remaining 31% stake in Mutanda Mining Sarl and an approximate 10.25% stake in Katanga Mining Ltd.
Jan 06, 2017· Diversified miner Glencore says it has received certain enquiries around whether it will increase its stake in Mutanda. Back to IOL Homepage ... Glencore may up DRC stake. ... The Mutanda Mine is ...
Gold miner Evolution Mining has completed the acquisition of a stake in the Ernest Henry copper-gold mine, in Queensland. Evolution previously agreed to pay diversified miner Glencore A$880-million for a 30% stake in the operation, entitling the company to of the gold production at the mine, subject to an agreed life-of-mine and block model.
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.
Feb 14, 2017· Glencore buys Dan Gertler stakes in 2 Congo mines ... Glencore said it would purchase the 31% holding held in Mutanda Mining by Mr. Gertler's Fleurette Group, valuing the stake .
Glencore said at the time "During the period when these transactions took place, Glencore had decided in general not to increase its shareholdings in DRC projects." Glencore acquired a 50% share in SAMREF Congo SPRL in 2007, a Congolese-registered company holding 80% of the Mutanda Mine.
Aug 15, 2019· Glencore wrote to employees saying that the Mutanda mine is no longer economically viable over the long term, also citing the DRC's new mining code as among the reasons for the closure. Glencore CEO Ivan Glasenberg is "probably seeking special considerations for Glencore's operations in DR Congo," Ellis says.
Dec 19, 2013· Mutanda, a high-grade copper and cobalt producer, has become a significant producer of the red metal thanks to Glencore. The firm has invested $670m to double the mine.
Nov 03, 2019· Mining giant Glencore, 6th largest mining company in the world according to PwC, announced last Friday it would increase its stake in the Mutanda copper and cobalt mine in DR Congo. The company, which already holds 69% of the project, is .
Glencore has purchased the Fleurette group's remaining 31% stake in Mutanda Mining Sarl and an approximate 10.25% stake in Katanga Mining. Glencore has purchased the Fleurette group's remaining 31% stake in Mutanda Mining Sarl and an approximate 10.25% stake in Katanga Mining.
Jun 08, 2018· Glencore said it understands that Brown sold his indirect shares in the Mutanda copper and cobalt mine in southeastern Democratic Republic of Congo to Glencore.
Glencore studying raising stake in Congo mine with Gertler Fri, Jan 06, 2017 - 6:56 PM Glencore Plc, the commodities trader and miner headed by billionaire Ivan Glasenberg, is considering increasing its stake in the Mutanda copper mine in the Democratic Republic of Congo.
Jun 08, 2018· Congolese-American businessman and convicted fraudster Charles Brown claims he's owed $1 billion in compensation for a 19% stake he previously held in Mutanda Mining, and which Glencore allegedly ...
The Mutanda stake is valued at $922 million, and the holding in Toronto-listed Katanga is valued at $38 million, according to the statement from Glencore. The deal increases Glencore's holding to 86.3 percent in Katanga. Glencore also take over $130 million in loans Mutanda owed to Fleurette.
May 22, 2012· Commodities trader Glencore has taken majority control of its fast-growing Mutanda copper operation in Congo with deals worth $480 million, marking the first step in a planned merger of the mine ...
Jan 05, 2017· Glencore Plc, the commodities trader and miner headed by billionaire Ivan Glasenberg, is considering increasing its stake in the Mutanda copper mine in the Democratic Republic of Congo.
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