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Glencore ups Clermont, Ulan stakes in $738M deal

GLENCORE is buying Mitsubishi Development’s 10% interest in the Ulan coal operation to take full ownership of it and also upping its stake in the Clermont operation in a separate transaction. Together those deals are worth US$530 (A$738) million.

Noel Dyson
Glencore's Ulan mine in NSW.

Glencore's Ulan mine in NSW.

Glencore will be funding US$130 million of that.   At Ulan the Glencore-Mitsubishi joint venture will come to an end with Glencore buying out Mitsubishi's stake.    Glencore will continue to manage...

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