Business
PPX Mining Closes Strategic Investment and Precious Metals Concentrate Offtake with Glencore
NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES TORONTO, ON / ACCESS Newswire / December 8, 2025 / PPX Mining Corp. (TSXV:PPX)(BVL:PPX; "PPX" or the "Company", including its Peruvian subsidiaries) is pleased to announce ...
About this update from Glencore Plc
[{"type":"text","content":"NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES","length":76,"tagName":"p"},{"type":"text","content":"TORONTO, ON / ACCESS Newswire / December 8, 2025 / PPX Mining Corp. (TSXV:PPX)(BVL:PPX; "PPX" or the "Company", including its Peruvian subsidiaries) is pleased to announce the closing of the strategic transaction with affiliates of Glencore plc (collectively, "Glencore") previously announced by the Company on October 6, 2025. This transaction represents a significant milestone for the advancement of the Company's Igor Project in La Libertad, Peru; and includes a cornerstone equity investment (the "Glencore Investment"), a life-of-mine precious-metals concentrate offtake agreement, and provides the Company with the opportunity to access Glencore's leading expertise and technology.","length":736,"tagName":"p"},{"type":"text","content":"Brian Imrie, Executive Chairman of PPX Mining, commented: "Closing this transformational transaction with Glencore marks a defining step in PPX's evolution. With strategic financing in place, a long-term offtake secured and with future access to Glencore's technology, if needed, PPX is positioned to advance the Igor Project through plant construction and toward production with greater technical depth, commercial certainty, and financial strength. Glencore's investment provides the financial capacity for PPX to aggressively explore the sulfide targets across the entire Igor Project."","length":611,"tagName":"p"},{"type":"text","content":"Under the terms of the Glencore Investment, Glencore Canada Corporation ("Glencore Canada", the Canadian affiliate of Glencore plc) subscribed for units of PPX (the "Units"), at a price of C$0.237 per Unit, with each Unit consisting of one common share of the Company (a "Common Share") and one Common Share purchase warrant (a "Warrant"), and each Warrant exercisable for one Common Share at an exercise price of C$0.289 per share for a period of 36 months following closing. As previously announced by the Company on October 6, 2025, the number of Units issued resulted in Glencore Canada owning 9.99% of the outstanding Common Shares (before exercising the Warrants), on a post-closing basis. Accordingly, a total of 84,056,387 Units wer...