https://www.miningweekly.com
Business|Mining|Power|PROJECT
Business|Mining|Power|PROJECT
business|mining|power|project

Glencore to sell Bolivian zinc assets

13th October 2021

By: Creamer Media Reporter

     

Font size: - +

Diversified miner Glencore has announced the sale of its Bolivian zinc assets to Canada’s Santa Cruz Silver Mining for $110-million.

Glencore will receive an initial $20-million on the completion date and a further $90-million in about four years from completion.

Santa Cruz Silver, which is a midtier producer currently operating in Mexico, will acquire Glencore’s Sinchi Wayra and Illapa assets.

Sinchi Wayra owns the Reserva, Tres Amigos and Colquechaquita mines, the Don Diego concentrator and power plants, as well as the Sorocaya project and San Lucas.

Illapa owns a 45% contractual joint venture (JV) right in the Porco and Bolivar mines. Comibol will continue to own the Illapa Mines and retain a 55% contractual JV.

At completion, Glencore will enter into net smelter royalty agreements, each at 1.5%, in respect of the Bolivian mining business with Santa Cruz, which provide for continued life-of-mine payments based on the performance of the relevant mines.

Glencore will also retain offtake rights for life-of-mine in respect of the production from the relevant mines.

Edited by Creamer Media Reporter

Comments

Showroom

Yale Lifting Solutions
Yale Lifting Solutions

Yale Lifting Solutions is a leading supplier of lifting and material handling equipment in Southern Africa. Yale offers a wide range of quality...

VISIT SHOWROOM 
SAIMC (Society for Automation, Instrumentation, Mechatronics and Control)
SAIMC (Society for Automation, Instrumentation, Mechatronics and Control)

Education: Consulting with member companies to obtain the optimal benefits from their B-BBEE spending, skills resources as well as B-BBEE points

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.091 0.126s - 93pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: