17
Mar
11:29
COPPER: Glencore to sell CSA mine to SPAC
Glencore is selling its CSA copper mine in New South Wales, Australia, to New York-listed special purpose acquisition company Metals Acquisition Corp (MAC).
The deal announced on Thursday involves a payment of $1.05 billion in cash, a $50 million equity stake in MAC and a 1.5% net smelter return life of mine royalty to Glencore. The plan is for MAC to fully operate the mine but sell 100% of its production to Glencore under an offtake agreement, Kallanish unde…
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Very good overview of the weekly steel market.
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