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FT: Glencore to spin off mining royalties into new company

Published 07/17/2017, 10:01 AM
© Reuters.  FT: Glencore to spin off mining royalties into new company
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  • Glencore (LON:GLEN) (OTCPK:GLCNF, OTCPK:GLNCY) is planning to spin off its portfolio of mining royalties into a new company later this year in a bid to attract outside investors with an eye on an eventual stock market listing, Financial Times reports.
  • Glencore would seed the new company with royalty agreements valued at more than $300M while looking to find a strategic partner to fund further deals that help provide financing to junior miners in return for a piece of their revenue and exclusive marketing deals, according to the report.
  • The royalty agreements would help Glencore acquire supplies of copper, cobalt, nickel and zinc producers for its giant trading division.
  • Now read: GeoPark: A Review Of Its Q2 2017 Results

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