Mining enormous Glencore grasp supplied off an Australian gold and copper mine for R11bn in teach to condo the transition to green metals. Strangely, Glencore wager great on a thermal coal mine in Colombia within the latter cease of closing year. They’ve been below stress from activists groups concerning environmental sustainability considerations, so this might per chance well presumably also be the principle signal put up that administration is taking a scrutinize to toddle the velocity of replace into green metals. – Justin Rowe-Roberts
Glencore closes sale of Ernest Henry Mine
Glencore and Evolution Mining grasp this day closed the sale and have interaction of Glencore’s 100% hobby in Ernest Henry Mining, the owner of the Ernest Henry Mining (EHM) copper-gold mine in Queensland, Australia.
Glencore has acquired A$800m and need to tranquil secure an additional A$200m in 12 months time.
To boot to, by motive of Evolution’s acquisition of Ernest Henry, from this day, all agreements enforcing the industrial joint ventures between Glencore and Evolution entered into on 23 August, 2016 grasp ended and Glencore has no additional responsibility to advise any gold, copper focus or diverse metals below these agreements from 1 January 2022. Evolution additionally assumes all rehabilitation tasks and liabilities and need to tranquil replace Glencore’s rehabilitation bonds.
Glencore will offtake 100% of the copper focus produced at EHM. Glencore will proceed to be among Australia’s leading producers and exporters of the green metals that underpin the realm transition to a low-carbon future.
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