Glencore sells its controlling stake in Volcan Compañia Minera

Glencore has entered into a definitive agreement to sell its stake in Volcan Compañia Minera S.A.A. to Transition Metals AG, a subsidiary of Integra Capital. As part of the transaction, Transition Metals will pay Glencore USD 20 million and Glencore has agreed to provide a secured facility of up to USD 40 million to fund certain mandatory tender offer obligations of Transition Metals pursuant to applicable Peruvian laws and regulations.

The transaction is not subject to any regulatory approvals and is expected to close this week.

Glencore is one of the world’s largest global diversified natural resource companies and a major producer and marketer of more than 60 commodities that advance everyday life. With over 150,000 employees and contractors and a strong footprint in over 35 countries in both established and emerging regions for natural resources, its marketing and industrial activities are supported by a global network of more than 50 offices.