Glencore Purchases Stakes
in Mutanda and Katanga
Glencore now owns 100% of Mutanda and approximately 86% of Katanga.
Glencore has purchased the Fleurette
groupís remaining 31% stake in Mutanda
Mining Sarl for $922 million and a
10.25% stake in Katanga Mining Ltd. for
$38 million. Fleurette and its affiliates
owe outstanding loans to the Glencore
group over the Mutanda shares, amounting
to $556 million, of which $120 million
comprises accrued interest. In addition,
Glencore has acquired shareholder loans
owed to the Fleurette group by Mutanda
Mining Sarl of $130 million. Accordingly,
the aggregate cash consideration payable
by the Glencore group is $534 million.
Glencore now owns 100% of Mutanda
and approximately 86.33% of Katanga.
As featured in Womp 2017 Vol 03 - www.womp-int.com