September 27, 2022
Swiss mining and commodity trading company has agreed to pay up to $175 million to acquire an additional 18.9% of the MARA copper and gold project in Argentina, it said in a press release.
Glencore said it bought the stake from Denver-based Newmont Corporation and increased its total holding to 43.8%. Canadian precious metals company Yamana Gold operates MARA with 56.3%.
Glencore will pay $125 million upon closing the transaction and add between $30 million and $50 million in a deferred payment
Swiss commodity company could pay up to $175 mln for an additional 19% of the MARA copper-gold project and take its total stake to 44%