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Glencore zinc transaction with Trevali
Glencore plc (“Glencore”) is pleased to announce that it has entered into a definitive agreement with Trevali Mining Corporation (“Trevali”), whereby Trevali will purchase Glencore’s 80% interest in the Rosh Pinah mine in Namibia (“Rosh Pinah”) and 90% interest in the Perkoa mine in Burkina Faso (“Perkoa”). The aggregate consideration is US$400 million, of which US$244 million is to be paid in cash, with the remaining US$156 million paid by Trevali through the issuance of 175,125,304 shares (“the Transaction”). Trevali will additionally pay Glencore US$30 million to repay an existing debt facility. The transaction is subject to customary regulatory approvals and is expected to close by July 2017.