Loading ...London-listed miner Glencore has agreed to sell its Ernest Henry Mining copper-gold mine in Queensland to Australia-based Evolution Mining for A$1 billion ($729.60 million), the companies said on Wednesday.
The acquisition will double Evolution Mining’s annual copper production from its earlier forecast to between 34,000 to 38,000 tonnes, driving all-in sustaining cost (ASIC) lower to about A$90 to A$100 per ounce.
Glencore to sell Ernest Henry asset to Evolution for $729 million