23
Nov
14:40
Glencore, MAC amend payment terms of $1.1 billion Cobar deal
Glencore said Wednesday it has amended payment terms for the sale of its CSA Cobar mine in South Wales, Australia, to Metals Acquisition Corp (MAC), Kallanish reports.
The deal remains at the original $1.1 billion price tag plus a 1.5% copper net smelter return life of mine royalty upon completion of the transaction, expected in Q1 2023. But payment terms have been amended since the acquisition was announced in March 2022 to consist of $775 million cash (with the …
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