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Glencore PLC (GLEN)

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Monday 12 October, 2015

Glencore PLC

Proposed Sale of Copper Mines

RNS Number : 8866B
Glencore PLC
12 October 2015
 

Baar, Switzerland

12 October, 2015

 

Proposed Sale of Cobar and/or Lomas Bayas Copper Mines

 

 

Glencore today announces the commencement of a process to sell its wholly-owned Cobar copper mine in Australia and Lomas Bayas copper mine in Chile.  The sale process is in response to Glencore receiving a number of unsolicited expressions of interest for these mines from various potential buyers.  This will allow potential buyers to bid to purchase either one or both of the mines and may or may not result in a sale. Glencore will issue an update only in the event a sale is agreed or disclosure is otherwise required.

 

About Cobar:

Cobar is a high-grade underground copper mine and a concentrate plant in central western New South Wales, Australia. The plant throughput is approximately 1.1 million tonnes of ore per annum and it produces approximately 50,000 tonnes of copper in concentrate per annum.

 

About Lomas Bayas:

Lomas Bayas is a low-cost, open pit copper mine which is located in the Atacama desert, 120 kilometers north-east of the port of Antofagasta, Chile. The low grade copper ore mined at this facility is processed by heap leaching and converted to copper cathode after processing through the SX-EW plant. The Lomas Bayas operation produces approximately 75,000 tonnes of copper cathode per annum. 

 

 

 

For further information please contact:

 

Investors




Paul Smith

t: +41 41 709 24 87

m: +41 79 947 13 48

[email protected]

Martin Fewings

t: +41 41 709 28 80

m: +41 79 737 56 42

[email protected]

Elisa Morniroli

t: +41 41 709 28 18

m: +41 79 833 05 08

[email protected]

Media




Charles Watenphul

t: +41 41 709 24 62

m: +41 79 904 33 20

[email protected]

Pam Bell

t: +44 20 7412 3471

m: +44 77 3031 9806

[email protected]

 

www.glencore.com

 

www.youtube.com/glencorevideos 

Notes for Editors

 

Glencore is one of the world's largest global diversified natural resource companies and a major producer and marketer of more than 90 commodities. The Group's operations comprise of over 150 mining and metallurgical sites, oil production assets and agricultural facilities.

With a strong footprint in both established and emerging regions for natural resources, Glencore's industrial and marketing activities are supported by a global network of more than 90 offices located in over 50 countries.

Glencore's customers are industrial consumers, such as those in the automotive, steel, power generation, oil and food processing. We also provide financing, logistics and other services to producers and consumers of commodities. Glencore's companies employ around 181,000 people, including contractors.

Glencore is proud to be a member of the Voluntary Principles on Security and Human Rights and the International Council on Mining and Metals. We are an active participant in the Extractive Industries Transparency Initiative.

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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