Glencore in talks with Canadian pension fund on royalties venture: Reuters
Mining giant Glencore Plc is working with a Canadian pension fund to create a standalone 50:50 joint venture for its portfolio of royalty assets, sources told Reuters. Reuters reported in May that Glencore had hired the Bank of Nova Scotia to sell its royalty assets, including one for the Antamina copper-zinc mine in Peru, which was expected to fetch up to US$250 million. It is now in talks to create a 50:50 venture for the assets with Ontario Teachers’ Pension Plan. A separate vehicle would help Glencore to secure supplies of copper, zinc and nickel for its trading unit. Both firms would also expand the portfolio by purchasing royalties from other miners’ operations, the sources said.
21 July 2017•2 mins read
