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Glencore buys out billionaire with mining deal

The US$960 million deal gives Glencore a 31 per cent stake in the world's biggest cobalt mine and a 10.3 per cent holding in a nearby copper and cobalt mine

Israeli billionaire Dan Gertler (above) has been implicated in bribery allegations that have put his business in the Democratic Republic of Congo and his relationship with President Joseph Kabila under scrutiny.


GLENCORE Plc agreed to a US$960 million deal that will boost ownership of two giant Congolese cobalt and copper mines, and sever its ties with controversial Israeli billionaire Dan Gertler.

The deal gives Glencore greater control of key assets at a time of booming copper and...

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