Glencore increases stake in Argentine mining venture

Glencore increases stake in Argentine mining venture

M&A Equity Argentina Switzerland

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

Already have an account?

Free trial

Take a free two-week trial now for the latest news, data and market analysis.

Free Trial