Glencore cancels acquisition

published 30 November 2011

Glencore International AG, a wholly-owned subsidiary of commodities trading firm Glencore International plc, has terminated its agreement to acquire a 70% interest in Marcobre S.A.C. from CST Mining Group.

Marcobre is the sole owner of the Marcona Copper Property and the Mina Justa Project.

The decision comes after the conditions of the agreement were not satisfied, despite an extension of the period for satisfying the terms of the agreement.