Glencore: Completion of the Sale of Frieda River Montag, 25. August 2014 - 09:49

Baar, Switzerland
25 August, 2014


Completion of the Sale of Frieda River

We refer to Glencore plc’s ("Glencore") announcement on 31 October 2013
relating to the execution of a share sale agreement ("SSA") with PanAust
Limited (“PanAust”) for the sale of its interest in the Frieda River
Project in Papua New Guinea (the “Transaction”).

Glencore is pleased to announce the Transaction has completed, effective 25
August 2014.

The consideration for the transaction is a cumulative USD125 million. The
first installment of USD25 million has been paid on completion in addition
to reimbursement of approximately USD4 million in costs incurred by
Glencore between the execution of the SSA and 25 August 2014. The second
installment of USD50 million1 will be made on 31 December 2015. In
addition, on successful completion of a development at Frieda River,
Glencore will receive a 2% net smelter royalty (on PanAust’s interest in
the Project) to a total aggregate amount of USD50 million2.

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

Finsbury (Media)
Guy Lamming
Dorothy Burwell
t: +44 (0) 20 7251


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


1 Subject to consumer price index (“CPI”) escalation between the date of
signing the SSA and on a quarterly basis each year prior to payment.
2 Subject to CPI escalation between the date of signing the SSA and on a
quarterly basis each year prior to payment.


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. We also
provide financing, logistics and other services to producers and consumers
of commodities. Glencore employ around 200,000 people, including
contractors.