Glencore intends to sell 70% of the mine in Kazakhstan.
Edited by Rhod Mackenzie / 2016-05-04 12:23:53
Commodities trader and manufacturer of metal - Glencore Plc - intends to sell 70% stake in the Vasilkovsk gold mine in Kazakhstan, The Wall Street Journal reports referring to informed sources. According to sources, the deal could bring the company about $ 2 billion.
Sale of shares in Glencore-owned mine would help the company to reduce its debt burden, which amounts to almost $ 26 billion. Earlier this year the company signed agreements totaling $ 1.4 billion for the supply of gold and silver from the deposits in Peru.
