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Glencore raises US$670m in Australian copper mine stake sale

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Glencore Plc has agreed to sell a 30 per cent stake plus all of the gold from its Ernest Henry copper mine in Australia to Evolution Mining for A$880 million (S$905.6 million), the two companies said on Wednesday.

[MELBOURNE] Glencore Plc has agreed to sell a 30 per cent stake plus all of the gold from its Ernest Henry copper mine in Australia to Evolution Mining for A$880 million (S$905.6 million), the two companies said on Wednesday.

Evolution has also agreed to pay 30 per cent of the mine's production and capital costs tied to copper concentrates.

REUTERS

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