Glencore to Sell Stake in Volcan Compañia Minera to Integra Capital Subsidiary
Swiss-based Glencore has finalized an agreement to divest its stake in Volcan Compañia Minera to a subsidiary of Integra Capital.
Transition Metals will acquire Glencore’s stake in Volcan for $20 million. Volcan operates zinc, lead, and silver mines in Peru.
As part of the agreement, Glencore has committed to providing Transition Metals with a secured facility of up to $40 million to fulfill certain mandatory tender offer obligations under Peruvian laws and regulations.
The transaction does not require regulatory approvals and is anticipated to be completed this week.
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