Glencore plc and Metals Acquisition Corp have entered into a binding agreement for the sale and purchase of Glencore’s CSA copper mine in New South Wales, Australia. Glencore will receive USD 1.05 billion in cash, USD 50 million equity stake in MAC and a 1.5% net smelter return life of mine royalty upon completion of the transaction. MAC will assume ownership and full operational control of the mine and will enter into an offtake agreement with Glencore for 100% of the copper concentrate produced at CSA Mine.Glencore will reportedly continue to be a leading marketer, producer, and exporter of the Australian metals and minerals that will underpin the global transition to a low-carbon future.
Glencore plc and Metals Acquisition Corp have entered into a binding agreement for the sale and purchase of Glencore’s CSA copper mine in New South Wales, Australia. Glencore will receive USD 1.05 billion in cash, USD 50 million equity stake in MAC and a 1.5% net smelter return life of mine royalty upon completion of the transaction. MAC will assume ownership and full operational control of the mine and will enter into an offtake agreement with Glencore for 100% of the copper concentrate produced at CSA Mine.Glencore will reportedly continue to be a leading marketer, producer, and exporter of the Australian metals and minerals that will underpin the global transition to a low-carbon future.
