Glencore buys Dan Gertler stakes in 2 Congo mines ...
Feb 14, 2017· Glencore buys Dan Gertler stakes in 2 Congo mines ... Glencore said it would purchase the 31% holding held in Mutanda Mining by Mr. Gertler''s Fleurette Group, valuing the stake .
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Feb 14, 2017· Glencore buys Dan Gertler stakes in 2 Congo mines ... Glencore said it would purchase the 31% holding held in Mutanda Mining by Mr. Gertler''s Fleurette Group, valuing the stake .
Hamze also denies the allegations. Hamze''s now liquidated company, Groupe Bazano, fairly acquired Brown''s stake in Mutanda in 2004 and 2005, before the mine started meaningful operations and before Glencore was a shareholder, according to a lawyer who represented Bazano.
Glencore has today purchased from subsidiaries of Fleurette Properties Limited ("Fleurette") the Fleurette group''s remaining 31% stake in Mutanda Mining Sarl (the "Mutanda Shares") and an approximate % stake in Katanga Mining Limited (the "Katanga Shares").
Jun 08, 2018· Glencore said it understands that Brown sold his indirect shares in the Mutanda copper and cobalt mine in southeastern Democratic Republic of Congo to Glencore.
The DRC is home to one of the world''s main coppermining regions: the African Copperbelt. In the DRC, we have a substantial stake in Katanga Mining and wholly own Mutanda Mining, both located in the DR Congo''s Katanga province.
Glencore has purchased the Fleurette group''s remaining 31% stake in Mutanda Mining Sarl and an approximate % stake in Katanga Mining. Glencore has purchased the Fleurette group''s remaining 31% stake in Mutanda Mining Sarl and an approximate % stake in Katanga Mining.
Glencore bought the remaining per cent interest in Mutanda Mining held by High Grade Minerals, taking its stake to 69 per cent. Mutanda is a highgrade copper and cobalt producer, with its operations located in the province of Katanga, in Congo. The remaining equity in Mutanda – 31 per cent – is held by a subsidiary of Fleurette ...
Aug 15, 2019· Glencore wrote to employees saying that the Mutanda mine is no longer economically viable over the long term, also citing the DRC''s new mining code as among the reasons for the closure. Glencore CEO Ivan Glasenberg is "probably seeking special considerations for Glencore''s operations in DR Congo," Ellis says.
Gold miner Evolution Mining has completed the acquisition of a stake in the Ernest Henry coppergold mine, in Queensland. Evolution previously agreed to pay diversified miner Glencore A880million for a 30% stake in the operation, entitling the company to of the gold production at the mine, subject to an agreed lifeofmine and block model.
Jan 12, 2017· The Democratic Republic of Congo won''t stand in the way of Glencore''s (LON:GLEN) plans to increase its stake in the Mutanda copper mine, an asset it jointly owns with billionaire mining .
Jan 06, 2017· Diversified miner Glencore says it has received certain enquiries around whether it will increase its stake in Mutanda. Back to IOL Homepage ... Glencore may up DRC stake. ... The Mutanda Mine is ...
Mutanda produced 213,300 tonnes of copper and its cobalt production rose almost 50 percent to 24,500 tonnes last year, according to Glencore. The mine is considered one of Glencore''s main growth ...
Roskill view: Glencore announced that it was studying strategic options for the Mutanda mine. Glencore holds a 69% stake in Mutanda Mining, having increased its stake from 50% in 2007 via a series of acquisitions. Fleurette owns the remaining 31%. The Mutanda mine is the biggest single cobalt producing mine. Read more
Feb 13, 2017· " We are extremely proud of what we have achieved at Mutanda. Together with Glencore, Fleurette has enabled the mine to deliver on its full potential and it has become one of the largest taxpayers ...
Glencore said at the time "During the period when these transactions took place, Glencore had decided in general not to increase its shareholdings in DRC projects." Glencore acquired a 50% share in SAMREF Congo SPRL in 2007, a Congoleseregistered company holding 80% of the Mutanda Mine.
Glencore has increased its hold on Democratic Republic of Congo''s copper and cobalt resources by buying the remaining stake in the Mutanda mine from resource group Fleurette and increasing its ...
To process this material — and give Mutanda a mine life of 15 years — Glencore would need to invest heavily in new processing equipment. ... signed into law a new mining code that increases ...
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Glencore studying raising stake in Congo mine with Gertler Fri, Jan 06, 2017 6:56 PM Glencore Plc, the commodities trader and miner headed by billionaire Ivan Glasenberg, is considering increasing its stake in the Mutanda copper mine in the Democratic Republic of Congo.
Glencore also indirectly owns % of Kansuki, a copper and cobalt development project bordering Mutanda covering 185 square kilometres (71 sq mi). In August 2011 Glencore''s CEO said the company planned to combine the two properties and to increase its share to over 50%.
Glencore buys stakes in Mutanda and Katanga mines valued at 960m. Andrew Topf ... The company will also purchase Gertler''s minority stake in Katanga Mining Ltd. (TSX:KAT), for 38 million ...
The Mutanda stake is valued at 922 million, and the holding in Torontolisted Katanga is valued at 38 million, according to the statement from Glencore. The deal increases Glencore''s holding to percent in Katanga. Glencore also take over 130 million in loans Mutanda owed to Fleurette.
Mutanda Mining Sarl. Glencore plc Baar, Switzerland 5 January, 2017. Glencore has received certain incoming press enquiries in relation to the potential acquisition of a further stake in Mutanda. Glencore is currently considering its strategic options in connection with Mutanda and a further announcement will be made in due course, if appropriate.
Nov 16, 2018· Its sister mine, Mutanda, is also owned by Glencore. ... Glencore acquired a 40 percent stake in Mutanda in a deal that valued the project at 150 million. About the .
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