Move comes 15 months after the country’s government halted the planned revision amid opposition from mining companies and low commodity prices.
Glencore Mining News
The deal, worth about $400 million, will make Trevali the first pure zinc producer with operations in North and South America as well as Africa.
Market rumours point at South32 as the most likely buyer, since the miner decided last month to ditch its $200 million acquisition of Peabody Energy’s coal mine in New South Wales.
A deal between workers and the companies that own the Collahuasi copper mine in northern Chile could mean labour peace at the often-picketed mine for the next three years.
Combined worth of $842 billion with 20% gains so far in 2017.
Damage to rail lines in cyclone-hit Queensland have disrupted the shipment of between 15 million and 20 million tonnes of coking coal destined to Asia.
The Vancouver-based precious metals streaming company announced the plan while posting a fourth quarter revenue increase of 29% to $258 million, up from $200 million last year.
The $400 million-deal will make of Trevali the first pure zinc company with operations in North and South America as well as Africa.
Northam Platinum’s strategy of buying additional mines, as its strives to become a 1-million ounce a year platinum group metals producer, netted it Glencore’s Eland Platinum mine for R175m cash.
Wall of copper supply never materialized, nickel market recorded first deficit since 2010 and zinc, lead will only get tighter in 2017.
A surge in commodity prices combined with its multibillion-dollar asset fire-sale has put the company in a position to pay big dividends and explore acquisitions.
Glencore is upping its presence in the African mining landscape through the purchase of stakes in two mines it already partially owns.
Mines Minister Martin Kabwelulu said he “didn’t believe” the government needed to authorize changes in ownership in that or any project.
The Swiss firm already has a 69% stake in the DRC mine, which jointly owns with Israeli mining tycoon Dan Gertler.
After buying ought out its two Japanese partners, Itochu Corp and Sumitomo Corp.
Soaring coal prices have helped Glencore, the world’s biggest provider of the thermal kind, straighten its balance sheet.
Global Witness: Royalty stream from Glencore's KCC copper-cobalt operation transferred to offshore company controlled by Israeli billionaire Dan Gertler.
The most-traded coking coal for January delivery on the Dalian Commodity Exchange soared 10% to 1,516 yuan ($224) a tonne, a record high.
While output was down for most commodities it mines and sales, it has improved earnings forecast for its trading unit.
The move comes only a few days after it resumed operations at Collinsville mine in Australia's Queensland state.
This is probably the headline most people who have lost their jobs in the last two years were dying to read.
Black Star deposit at Mount Isa in Australia depleted after 13 years of operation.
Congo began reviewing its mining code in 2012, aiming to increase state revenues and tighten environmental and social regulations, but it has yet to make a decision about it.
Glencore has already restarted its Collinsville mine in Queensland and there are at least seven other coal operations set to resume production before year-end.
With the deal, the Swiss group is only a step away from meeting chief executive Ivan Glasenberg’s target of $5bn in assets sales this year.