Sale of Stake Sagittarius Mines & Tampakan Project

RNS Number : 0633R

Glencore PLC

24 June 2015

 

Baar, Switzerland

24 June, 2015

Sale of Glencore Stake in Sagittarius Mines Inc and Tampakan Project

Following Glencore plc's ("Glencore") disposal of its shares in Indophil Resources NL ("Indophil"), a subsidiary of Glencore today executed a share sale agreement ("SSA") with an affiliate of Indophil for the sale of its entire remaining interest in the Tampakan Project in the Philippines ("Tampakan").

The SSA includes a number of conditions precedent that are required to be obtained prior to 30 June 2015 (subject to mutual agreement to extend such date). Details of the sale will be made available following certain administrative steps after the completion date.  Glencore will provide a further update when the transaction outlined by the SSA is completed.

In January 2015, a subsidiary of Glencore disposed of its shares in Indophil Resources NL (which holds a 37.5% interest in the Class A shares of Sagittarius Mines Inc. and is the owner of Tampakan) to Alsons Prime Investments Corporation pursuant to a scheme of arrangement in Australia.

For further information please contact:

Investor:

Martin Fewings t: [phone] m: [phone] e: [e-mail]

Elisa Morniroli t: [phone] m: [phone] e: [e-mail]

Media:

Charles Watenphul t: [phone] m: [phone] e: [e-mail]

Pam Bell t: [phone] m: [phone] e: [e-mail]

www.glencore.com

 www.youtube.com/glencorevideos 

Glencore is one of the world's largest global diversified natural resource companies and a major producer and marketer of more than 90 commodities. The Group's operations comprise of over 150 mining and metallurgical sites, oil production assets and agricultural facilities.

With a strong footprint in both established and emerging regions for natural resources, Glencore's industrial and marketing activities are supported by a global network of more than 90 offices located in over 50 countries.

Glencore's customers are industrial consumers, such as those in the automotive, steel, power generation, oil and food processing. We also provide financing, logistics and other services to producers and consumers of commodities. Glencore's companies employ around 181,000 people, including contractors.

Glencore is proud to be a member of the Voluntary Principles on Security and Human Rights and the International Council on Mining and Metals. We are an active participant in the Extractive Industries Transparency Initiative.

 

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