Glencore to increase stake at Peru’s polymetallic producer Volcan

Glencore plans to increase its stake in Peruvian zinc, lead and silver producer Volcan Compañía Minera through a deal worth more than $500 million, the mining and trading firm said on Tuesday October 3.

Glencore has entered into an agreement with Osterling and Letts families to acquire 26.73% of the total class A common (voting) shares of Volcan for a total cash consideration of $531 million.
Madeleine Osterling, Maria Josefina Letts and the trust estate Patrimonio Fideicometido DLB constituted by Doris Letts agreed to accept Glencore’s offer for all of their shares, the firm said.

The deal marks a move by Volcan towards a corporate...

Published

Danielle Assalve

October 03, 2017

17:46 GMT

São Paulo