Glencore to sell Australian copper mine to SPAC for $1.1 bln

Glencore to sell Australian copper mine to SPAC for $1.1 bln
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Nov 23 (Reuters) – Glencore said on Wednesday that blank-check firm Metal Acquisition Corp agreed to an amended agreement to buy the global miner’s Cobar copper mine in Australia in a deal valued at $1.1 billion.

Glencore said the two parties have agreed to amend terms, which involves Glencore receiving $1.1 billion as originally agreed in a March deal, along with amended payment terms and a 1.5% net smelter return life of mine royalty. (Reporting by Yadarisa Shabong; Editing by Savio D’Souza)

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