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Glencore has purchased the Fleurette group's remaining 31% stake in Mutanda Mining Sarl and an approximate 10.25% stake in Katanga Mining. Glencore has purchased the Fleurette group's remaining 31% stake in Mutanda Mining Sarl and an approximate 10.25% stake in Katanga Mining.
May 04, 2018· Glencore owns of Mutanda Mining and about 86% of Katanga Mining, which in turn has a 75% stake in KCC. HOW WILL GLENCORE SHARES REACT?
Dec 19, 2013· Mutanda, a high-grade copper and cobalt producer, has become a significant producer of the red metal thanks to Glencore. The firm has invested $670m to double the mine.
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The DRC is home to one of the world's main copper-mining 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.
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 also indirectly owns 37.5% 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 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 Congolese-registered company holding 80% of the Mutanda Mine.
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 Mutanda stake is valued at $922 million, and the holding in Toronto-listed Katanga is valued at $38 million, according to the statement from Glencore. The deal increases Glencore's holding to 86.3 percent in Katanga. Glencore also take over $130 million in loans Mutanda owed to Fleurette.
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 ...
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 ...
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 ...
Nov 03, 2019· Mining giant Glencore, 6th largest mining company in the world according to PwC, announced last Friday it would increase its stake in the Mutanda copper and cobalt mine in DR Congo. The company, which already holds 69% of the project, is .
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.
Glencore bought the remaining 14.5 per cent interest in Mutanda Mining held by High Grade Minerals, taking its stake to 69 per cent. Mutanda is a high-grade 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 ...
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.
Mining giant Glencore, 6th largest mining company in the world according to PwC, announced last Friday it would increase its stake in the Mutanda copper and cobalt mine in DR Congo. The company, which already holds 69% of the project, is currently looking at its options, and may well buy...
May 22, 2012· Commodities trader Glencore has taken majority control of its fast-growing Mutanda copper operation in Congo with deals worth $480 million, marking the first step in a planned merger of the mine ...
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 10.25% stake in Katanga Mining Limited (the "Katanga Shares").
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 .
Jun 08, 2018· Congolese-American businessman and convicted fraudster Charles Brown claims he's owed $1 billion in compensation for a 19% stake he previously held in Mutanda Mining, and which Glencore allegedly ...
Glencore purchases stakes in Mutanda and Katanga Tuesday, February 14th, 2017 Glencore has recently 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 10.25% stake in Katanga Mining Limited (the "Katanga ...
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