Disposals programme completions
1 December 2016
Glencore plc (including its group, “Glencore’’) announces that it has today completed the sales of:
- its GRail business for AUD1.14 billion to Genesee & Wyoming Australia; and
- stakes totalling 49.99% in Glencore Agriculture to Canada Pension Plan Investment Board and British Columbia Investment Management Corporation for US$3.124 billion in aggregate.
In relation to other disposals, the sale of an economic interest in the Ernest Henry copper-gold operation to Evolution Mining Limited completed at the beginning of November, with Glencore then receiving AUD880 million.
At relevant exchange rates, the total proceeds from the transactions referred to above, all of which have been received, are US$4.7 billion.
Further detail of these transactions are contained in the releases made on 6 April, 9 June, 24 August and 20 October and can be found here: www.glencore.com
For further information please contact:
t: +41 41 709 2880
m: +41 79 737 5642
Carlos Francisco Fernandez
t: +41 41 709 2369
m: +41 79 129 9195
t: +65 6415 7625
m: +65 9828 3700
t: +41 41 709 2462
m: +41 79 904 3320
t: +44 20 7412 3471
m: +44 77 3031 9806
Notes for Editors
Glencore is one of the world’s largest global diversified natural resource companies and a major producer and marketer of more than 90 commodities. The Group's operations comprise around 150 mining and metallurgical sites, oil production assets and agricultural facilities.
With a strong footprint in both established and emerging regions for natural resources, Glencore's industrial and marketing activities are supported by a global network of more than 90 offices located in over 50 countries.
Glencore's customers are industrial consumers, such as those in the automotive, steel, power generation, oil and food processing. We also provide financing, logistics and other services to producers and consumers of commodities. Glencore's companies employ around 160,000 people, including contractors.
Glencore is proud to be a member of the Voluntary Principles on Security and Human Rights and the International Council on Mining and Metals. We are an active participant in the Extractive Industries Transparency Initiative.