Glencore sells its zinc business in Bolivia

Glencore, a Swiss commodity trading giant, has signed an agreement with Canadian company Santa Cruz Silver Mining to sell its zinc businesses in Bolivia, as reported today.

According to a press release, the Swiss group agreed to sell the holding company of two companies that exploit mines in Bolivia.

The agreement provides for a payment of $ 20 million upon completion of the transaction and a deferred payment of $ 90 million over a period of four years.

The sale, which is subject to regulatory approval in Canada, is expected to close within the next three months and includes Sinchi Wayra, owner of the Tres Amigos and Colquechaquita mines, and Sociedad Minera Illapa, which owns 45% of a joint in the Porco mines and Bolívar.

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