Glencore begins process to sell copper mines
Glencore has begun the process to sell two of its copper mines in Australia and Chile.
FTSE 100
8,109.32
16:35 18/11/24
FTSE 350
4,473.50
17:09 18/11/24
FTSE All-Share
4,431.13
16:49 18/11/24
Glencore
383.45p
17:15 18/11/24
Mining
10,989.78
17:09 18/11/24
The FTSE 100 mining company announced on Monday it is planning to sell Cobar copper mine and Lomas Bayas copper mine.
The announcement comes after it received a number of unsolicited expressions of interest for the mines from various potential buyers.
The company said potential buyers will bid to purchase either one or both of the mines, but warned a sale is not guaranteed.
Cobar is a high-grade underground copper mine and a concentrate plant in central western New South Wales, Australia.
It has a throughput of 1.1m tonnes of ore per year and produces approximately 50,000 tonnes of copper in concentrate.
Lomas Bayas is an open pit copper mine which is located in the Atacama desert, north-east of Antofagasta, Chile.
It produces approximately 75,000 tonnes of copper cathode per year.