Glencore Increases Stake in Mutanda Mine

The Australian reported that Glencore (LSE:GLEN) has invested for an increased stake in the Mutanda copper-cobalt mine in the Congo.

As quoted in the market news:

The deal boosts Glencore’s indirect equity stake in Mutanda to 60 per cent from 40 per cent and provides the commodities producer and trader with an option to buy a further 25.51 per cent stake in Samref Overseas for $430 million in December through a put and call option agreement exercisable in December of next year.

Click here to read the full Glencore report.