So the deal is done...
Glencore PLC agreed to sell its CSA copper mine in Australia to Metals Acquisition Corp. for US$1.05 billion in cash, Dow Jones Newswires reported. The deal includes a US$50 million equity stake in Metals Acquisition and a 1.5% net smelter return royalty. The parties have also agreed to enter into an offtake agreement for Glencore to buy 100% of the copper concentrate produced at the CSA mine.
It will be interesting to see what other deals are done in the Cobar-Nyngan area with Metals Acquisition Corp. now in town.
Ann: RESPONSE TO MEDIA ARTICLE, page-103
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