Glencore nears merger of Congolese assets

Mining and marketing giant Glencore has completed the acquisition of a further stake in Samref Overseas, putting it one step closer to merge two of its mining operations in the Democratic Republic of the Congo (DRC).

Mining and marketing giant Glencore has completed the acquisition of a further stake in Samref Overseas, putting it one step closer to merge two of its mining operations in the Democratic Republic of the Congo (DRC).

Glencore bought a 24.49% equity interest in Samref Overseas from High Grade Minerals and a further 1% stake from Groupe Bazano in separate transactions which cost a total of $340m. Some $140m in shareholder debts owed to High Grade Minerals were also acquired.

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