Business
Glencore purchase of stakes in Alunorte and MRN
Glencore purchase of stakes in Alunorte and MRN.
About this update from Glencore Plc
[{"type":"text","content":"\n\n \n \nGlencore plc\nBaar, Switzerland\n1 December 2023\n \nGlencore closes purchase of stakes in Alunorte and MRN\n \nFurther to the announcement on 27 April 2023, Glencore and Norsk Hydro ASA (\"Hydro\") have today closed the transaction to purchase a 30% equity stake in Alunorte S.A. (\"Alunorte\") and a 45% equity stake in Mineracão Rio do Norte S.A. (\"MRN\").\nGlencore has become party to the Alunorte joint venture with Hydro and the other minority shareholders, and become party to the MRN joint venture with South32 and Rio Tinto. Glencore will not be the operator of either asset.\nGlencore will have offtake rights for life of mine in respect of its pro rata share of the production from both Alunorte and MRN.\nRobin Scheiner, Head of Alumina and Aluminium, Glencore, commented:\n\"We look forward to working with our new joint venture partners and the respective management teams at these world class assets.\"\nFor further information please contact:\n\n\n\n\nInvestors\n\n\n\n\nMartin Fewings\n\n\nt: +41 41 709 28 80\n\n\nm: +41 79 737 56 42\n\n\[email protected]\n\n\n\n\nMedia\n\n\n\n\nCharles Watenphul\n\n\nt: +41 41 709 24 62\n\n\nm: +41 79 904 33 20\n\n\[email protected]\n\n\n\n\n \nwww.glencore.com\nGlencore LEI: 2138002658CPO9NBH955\nNotes for Editors\nGlencore is one of the world's largest global diversified natural resource companies and a major producer and marketer of more than 60 commodities that advance everyday life. Through a network of assets, customers and suppliers that spans the globe, we produce, process, recycle, source, market and distribute the commodities that support decarbonisation while meeting the energy needs of today.\nWith around 140,000 employees and contractors and a strong footprint in over 35 countries in both established and emerging regions for natural resources, our marketing and industrial activities are supported by a global network of more than 40 offices.\nGlencore's customers are industrial consumers, such as those in the automotive, steel, power generation, battery manufacturing and oil sectors. We also provide financing, logistics and other services to producers and consumers of commodities.\nGlencore is proud to be a member of the Voluntary Principles on Security and Human Rights and the International Council on Mining and Metals...