Multinational commodity trader and mining group Glencore will acquire a 56.25% stake in the Mara copper and gold project in Argentina.
The Swiss-headquartered group struck the Deal with Canada’s Pan America. In a boost for Glencore stock, this agreement gives them sole ownership of the site.
Indeed, analysts expect Mara to be in the top-25 global copper producers when operational. Reports say that the site has an expected average copper production exceeding 200 metric tons per annum over the first 10 full years.
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