Glencore: Satisfaction of Conditions in relation to the Sale of Las Bambas Copper Mine Project Dienstag, 22. Juli 2014 - 13:28
Baar, Switzerland
22 July, 2014
Satisfaction of Conditions in relation to the Sale of Las Bambas Copper
Mine Project
We refer to Glencore plc’s ("Glencore") announcement on 14 April 2014
relating to the sale of its entire interest in the Las Bambas copper mine
project to a consortium owned 62.5% by MMG Limited, 22.5% by GUOXIN
International Investment Corporation Limited and 15.0% by CITIC Metal Co.,
Ltd. (the “Transaction”).
Glencore is pleased to announce that all of the conditions to completion of
the Transaction have been satisfied.
The parties are working towards closing the Transaction in early August
2014.
For further information, please contact:
Media:
Charles Watenphul
t: +41 (0) 41 709 2462
m: +41 (0) 79 904 33 20
charles.watenphul@glencore.com
Investor enquiries:
Paul Smith
t: +41 (0) 41 709 2487
m: +41 (0) 79 947 1348
e: paul.smith@glencore.com
Martin Fewings
t: +41 (0) 41 709 2880
m: +41 (0) 79 737 5642
e: martin.fewings@glencore.com
Elisa Morniroli
t: +41 (0) 41 709 2818
m: +41 (0) 79 833 0508
e: elisa.morniroli@glencore.com
About Glencore
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. They also
provide financing, logistics and other services to producers and consumers
of commodities. Glencore employ around 200,000 people, including
contractors.
About Las Bambas
Las Bambas is a long-life copper development project with prospective
exploration options. Located in Cotabambas, Apurimac Region of Peru, the
project is at an advanced stage of construction and is scheduled to
commence production in 2015.
As at 31 December 2013, Las Bambas had gross assets of US$4,420 million.
Given that the project is still in a pre-production phase, Las Bambas'
total profit for the financial year ended 31 December 2013 was US$(0.02)
million.
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discussed on pages 18 to 31 of Glencore's Annual Report 2013.
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Kong Limited and the Listing Requirements of the Johannesburg Stock
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