glencore increases stake in mutanda mining

Glencore purchases stakes in Mutanda and Katanga

Feb 13, 2017 ... In addition, Glencore has acquired shareholder loans owed to the Fleurette group by Mutanda Mining Sarl in the amount of US$130 million. ... its interest in Katanga for investment purposes and will continue to review its investment alternatives from time to time, and may determine to increase or decrease...

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Glencore buys stakes in Mutanda and Katanga mines valued at ...

Feb 13, 2017 ... Glencore (LON:GLEN) is upping its presence in the African mining landscape through the purchase of stakes in two mines it already partially owns. For the last month the Switzerland-based commodities trader has been studying strategic options for the Mutanda copper mine in the DRC, an asset it jointly...

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Glencore buys stakes in Mutanda Mining and Katanga Mining

Feb 14, 2017 ... Glencore has purchased the Fleurette group's remaining 31% stake in Mutanda Mining Sarl and an approximate 10.25% stake in Katanga Mining.The consideration for the Mutanda shares and the Katanga shares has been determined based on an analysis by BMO Capital Markets. The company was...

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Glencore agrees $960 million copper and cobalt deal with Fleurette

Feb 13, 2017 ... Glencore has increased its hold on Democratic Republic of Congo's copper and cobalt resources by buying the remaining stake in the Mutanda mine from resource group Fleurette and increasing its share in Katanga for a total of $960 million.

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Glencore pays $534m cash for Mutanda, higher stake in Katanga ...

Feb 13, 2017 ... GLENCORE is to buy full control of Mutanda Mining, a copper producer in the Democratic Republic of Congo, and lift its stake in the country's Katanga Mining for a net cash investment of $534m. The Swiss-headquartered mining and commodities marketing company said in an announcement that it would...

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Glencore mulls increasing stake in DRC mine with Gertler

Glencore mulls increasing stake in DRC mine with Gertler. The Swiss firm owns 69%, while Israeli billionaire Dan Gertler's Fleurette Group owns the rest of Mutanda copper mine. 09 January 2017 - 06:37 Jesse Riseborough. Ivan Glasenberg. Picture: BLOOMBERG. London — Glencore, the commodities trader and miner...

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DRC says Ok for Glencore to take full control of Mutanda copper mine

The Democratic Republic of Congo won't stand in the way of Glencore's (LON:GLEN) plans to increase its stake in the Mutanda copper mine, an asset it jointly owns with billionaire mining tycoon Dan Gertler. Mines Minister Martin Kabwelulu told Bloomberg he “didn't believe” the government needed to authorize changes in...

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Glencore to Pay $534 Million for Gertler's Stakes in Two Congo ...

Feb 13, 2017 ... Glencore said that under a new deal it now owns 100% of Mutanda's shares and 86.3% of Katanga's shares, which trade on the Toronto Stock Exchange. ... The purchase of Mr. Gertler's mining stakes increases Glencore's output of copper, which has rallied this year in part because of labor disputes at...

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Glencore to buy Gertler out of its DRC copper and cobalt mines

Feb 13, 2017 ... After the deal, Glencore will have a 100 per cent interest in Mutanda, and 86 per cent of Katanga. Mr Gertler said on Monday that his investments in the Mutanda and Katanga mines had “generated $3bn in tax revenues since our investment — a significant contribution to the DRC economy”. “With [Mutanda]...

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Glencore to buy out Israeli billionaire Dan Gertler's mining stakes

Feb 13, 2017 ... Glencore has struck a deal to buy out billionaire Israeli-mining entrepreneur Dan Gertler's stakes in two copper and cobalt mines in the Democratic Republic ... “Mutanda and KCC (Mutanda's DRC subsidiary) have generated $3bn in tax revenues since our investment – a significant contribution to the DRC...

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Glencore Studying Raising Stake in Congo Mine With Gertler ...

Jan 6, 2017 ... (Bloomberg) -- Glencore Plc, the commodities trader and miner headed by billionaire Ivan Glasenberg, is considering increasing its stake in the Mutanda copper mine in the Democratic Republic of Congo. The Swiss firm, which already owns 69 percent of the mine, will make a further announcement if...

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GLENCORE XSTRATA PLC | GLN| GLENCORE | company news ...

Glencore and QIA will each retain an economic interest in Rosneft shares commensurate with its original equity investment announced in December 2016, which amounts to ..... In addition, Glencore has acquired shareholder loans owed to the Fleurette group by Mutanda Mining Sarl in the amount of USD130 million.

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DRC's effort to increase transparency begins to pay dividends ...

Jan 19, 2016 ... Mutanda Mining, (MUMI), a joint venture of Glencore (69%) and Fleurette Mumi Holding (31 %), was the second largest tax payer in 2014. Glencore is listed on the London Stock exchange, GLEN, and Fleurette group is owned by Dan Gertler, an Israeli billionaire. MUMI produced USD 1.6 billion worth of...

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Glencore Purchases Stakes in Mutanda and Katanga | E & MJ

Feb 15, 2017 ... Glencore has purchased the Fleurette group's remaining 31% stake in Mutanda Mining Sarl for $922 million and a 10.25% stake in Katanga Mining Ltd. for $38 million. Fleurette and its affiliates owe outstanding loans to the Glencore group over the Mutanda shares, amounting to $556 million, of which $120...

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Why Glencore bought out tycoon in Congo - SWI swissinfo.ch

Mar 14, 2017 ... Gertler has denied wrongdoing and says his efforts to bring billions of dollars in investment to the DRC deserve a Nobel Prize. Raw materials extractors are .... Glencore also purchased Fleurette's 31% stake in the other shared DRC copper mining venture, called Mutanda Mining. The stakes were valued at...

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Glencore back in the hunt with Congo mine deal - The Australian

Feb 14, 2017 ... Glencore said it would purchase the 31 per cent holding held in Mutanda Mining by Mr Gertler's Fleurette Group, valuing the stake at $US922 million. ... The investment in the copper mines in the Democratic Republic of Congo is the most significant outlay by Glencore since its stock was roiled by a bust in...

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Glencore buys DRC mine shares from Israeli magnate | News24

Feb 14, 2017 ... Switzerland-based Glencore said it will pay Israeli billionaire Dan Gertler's Fleurette group $960m for Fleurette's 31% share in the Mutanda mine and 10.25% stake in the Katanga mine. Glencore, widely regarded as a maverick in the global commodities sector, will assume full control of the Mutanda mine...

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Glencore Buys Out Israeli Billionaire Dan Gertler With $1 Billion ...

Feb 14, 2017 ... Glencore Plc, lead by Ivan Glasenberg, agreed to pay the Israeli billionaire Dan Gertler $960 million for his remaining stakes in Congolese cobalt and copper mines. 31% stake in Mutanda Mining and an approximate 10.25% stake in Katanga Mining. The Mutanda stake is valued at $922 million, and the...

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Mutanda - Mining Atlas

Mutanda is a Copper-Cobalt Mine in DRC owned by Glencore Xstrata, Fleurette Group. ... Evolution previously agreed to pay diversified miner Glencore A$880-million for a 30% stake in the operation, entitling the company to 100% of the gold production at the mine, subject to an agreed life-of-mine and block model.

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GLENCORE PLC.: BMV:GLENN market news - Google Finance

Glencore Buys Out Billionaire With $1 Billion Congo Mining Deal Bloomberg. HSBC upgrades Glencore on the back of “another good deal”. Proactive Investors UK - Feb 15, 2017. Mining giant Glencore PLC (LON:GLEN) has had its price target upgraded by analysts at HSBC after it added to its Mutanda and Katanga...

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Why Everyone Wants to Get Their Hands on Cobalt | The Market ...

Feb 20, 2017 ... Without an increase in copper and nickel demand, it will be very difficult to see the reasonable prices needed to produce Tesla's batteries. Taking into ... This allows the commodity firm to profit more from the booming prices, holding now a 31% stake in the world's largest cobalt mine – Mutanda Mining.

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Glencore mining production suspension at KCC in DRC ... - Afrewatch

Glencore's decision to suspend its mineral production for 18 months at KCC in. DRC and Mopani1 in Zambia due operational ... and Zambia, Glencore produces around. 259,000 tons of copper for a USD 5 billion investment of which USD 2.8 billion ... 3 Information on Mutanda Mining are not included in this press release.

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Forum: Grondstoffen » Kobalt » Laatste pagina | Beursduivel.be

24 feb 2018 ... To do so, Glencore has been taking steps to increase its presence in the cobalt space. It upped its involvement in the cobalt and copper markets last year, paying Fleurette Group $960 million to increase its stakes in Mutanda Mining and Katanga Mining (TSX:KAT), both located in the DRC. 2.

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Glencore Buys Out Dan Gertler's Congo Cobalt and Copper Mines ...

Feb 14, 2017 ... Baar, Switzerland-based Glencore plc (LSE: GLEN) (SEHK: 0805) (JSE: GLN), one of the world's largest global diversified natural resource companies, said it acquired Israeli billionaire Dan Gertler's Fleurette group's remaining 31% stake in Mutanda Mining Sarl and a 10.25% stake in Katanga Mining Ltd...

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Resource Global Network | Glencore pays $960m for DRC copper ...

Feb 14, 2017 ... Glencore (LSE:GLEN) increased its holding in Fleurette Properties subsidiaries with a US$960 acquisition announced yesterday. The multi-commodity miner purchased a further 31% stake in Mutanda Mining, bringing its interest to 100%, and an approximate 10.25% stake in Katanga Mining. Taking into...

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Resource Matters - Magnitsky in Congo - Impact of Gertler sanctions ...

Feb 16, 2018 ... DRC State. Glencore. Other Toronto Stock. Exchange shareholders. Royalty payments. Africa Horizons Investments Limited. (sanctioned). Mutanda Mining ..... Investment Ltd. Copper. 150.000t. $6.500/t. $21,94. KCC. Africa Horizons. Investment Ltd. Cobalt. 11.000t. $65.000/t. $16,09. Mutanda. Unknown.

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Dan Gertler | Mining News

Glencore raising stake in Congo mine with Israeli billionaire. Posted By Phila Mzamo on January 9, 2017 in News. Glencore Plc, the commodities trader and miner headed by billionaire Ivan Glasenberg, is considering increasing its stake in the Mutanda copper mine in the Democratic Republic of Congo. The Swiss […].

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Response to BFA and RAID, June 2014

Jun 17, 2014 ... specific suggestions for improvement on various aspects of our approach to the management of community and environmental issues. Glencore's operations in the DRC. Glencore is a substantial investor in the DRC. Katanga Mining and Mutanda between them represent an investment of over $3.7 billion at...

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Major Mines & Projects | Mutanda Mine - Mining Industry Data

In February 2017, Glencore announced that it had acquired the remaining 31% stake in Mutanda Mining Sarl (“Mutanda”), which it did not previously own. Following the acquisition, Glencore owns 100% of the shares in Mutanda.

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Glencore's Big Electric Car Bet Carries Plenty of Risk: Gadfly - The ...

Nov 6, 2017 ... This long-running saga is a reminder, though, of DR Congo's importance to Glencore. After buying out Gertler's equity stakes in the Mutanda and Katanga mines for about $530 million in cash earlier this year, the Swiss-based resources company owns even larger interests in Congolese copper and cobalt...

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Mining firms face scrutiny over Congo deals | Business | The Guardian

May 8, 2012 ... The Global Witness report states: "The dealings raise questions over whether Glencore played a role in secret sales of stakes in the Kansuki and Mutanda mines in Congo's southern Katanga province in 2010 and 2011. They also raise questions over whether cash invested by Glencore shareholders is...

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Glencore Payments Face Canada Probe -- WSJ | Fox Business

Jul 28, 2017 ... The Justice Department alleged in a criminal case that Och-Ziff, in pursuit of investment profit, went into business with Mr. Gertler despite a consultant's ... Glencore in February purchased Mr. Gertler's stake in Katanga Mining, as well has his stake in another jointly run Congo copper mine, Mutanda Mining,...

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Cobalt Miner News For The Month Of February 2017 | Seeking Alpha

Feb 23, 2017 ... Investment advisor, portfolio strategy, growth at reasonable price ... Cobalt miner news - Glencore moves to increase its copper and cobalt exposure in the Congo. ... The focus will be on the cobalt miners that are in production now, or have a strong chance to make it to production in the short to mid-term.

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Mutanda Mining - Sulphuric Acid on the Web

Glencore made an investment of $650 million to develop this capacity. Glencore International operates the mine and has a 40% stake in the mine through a 50% holding in Samref Congo, which in turn holds 80% of Mutanda. Until recently, the state-owned Gécamines held the remaining 20%. Glencore also indirectly owns...

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KATANGA MINING LIMITED

May 14, 2014 ... (“Glencore Xstrata”) which owns 75.3% of Katanga's shares through Glencore International AG ... Ore mined at KOV Open Pit during Q1 2014 was 849,852 tonnes, a 20% increase over Q1. 2013. The average ...... Mutanda Mining SARL (“Mutanda”) is a copper and cobalt producer located in the DRC and is.

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Katanga Mining Limited (TSX:KAT) Stock Message Board ...

Company Name: Katanga Mining Limited, Stock Symbol: TSX:KAT, Industry: Alternative Energy, Total Posts: 125, Last Post: 3/23/2018 5:26:09 PM. ... http://www.glencore.com/assets/media/doc/news/2017/20170213-Glencore-purchases-stakes-in-Mutanda-and-Katanga.pdf. The other ... COBALT PRICE INCREASED 150%

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Glencore's Corporate Responsibility in the Democratic ... - Raid

Company (KCC) and Mutanda Mining (MUMI). ... the Glencore mines. Throughout the investigation, RAID, Bread for All and Fastenopfer remained in regular contact with. Glencore. A research team visited Glencore mines and installations in the DRC ... The Democratic Republic of Congo: a strategic investment for Glencore.

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Glencore | Facing Finance

Glencore: Seven dead in mining accident in Democratic Republic of Congo. ... In February 2015, Glencore´s joint venture with Dan Gertler´s Fleurette Group, Mutanda Mining, acquired a further concession for copper and cobalt mining in the Democratic Republic ... Glencore and climate change: increasing coal investments.

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GLN Glencore plc SENS and News - ShareData Online

GLENCORE | GLN | Glencore plc SENS and news including trading statements and result summaries. ... Glencore to acquire Hail Creek Coal Mine in Queensland .... Mutanda Mining Sarl. Fri 6 Jan 2017 07:05View. New strategic partnership between Glencore and Qatar Investment Authority relating to Rosneft. Wed 4 Jan...

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DRC: Glencore's $960m buyout of mines from controversial Israeli ...

Feb 14, 2017 ... Swiss mining company Glencore said on 13 February it would acquire the 31% stake held in Mutanda Mining by Gertler's Fleurette Group – valued at $922m – and Gertler's minority holding in Katanga Mining Ltd – valued at $38m. More from IBTimes UK. DRC: Israeli billionaire Dan Gertler probed by UK...

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