Gertler sells mining assets to Glencore

Issue 340 - 16 Feb 2017
Israeli businessman Dan Gertler has sold his stakes in two cobalt and copper mines to Glencore in a $960m deal. Glencore will buy Gertler’s 31% stake in Mutanda Mining and his 10% stake in Katanga Mining, both of which are held through his Fleurette Properties. Glencore will pay $534m in cash to Fleurette, once outstanding debt is deducted, giving it 100% of Mutanda and 86% of Katanga.

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