Glencore PLC Glencore purchase of stakes in Alunorte and MRN (4557V)
02 December 2023 - 3:00AM
UK Regulatory
TIDMGLEN
RNS Number : 4557V
Glencore PLC
01 December 2023
Glencore plc
Baar, Switzerland
1 December 2023
Glencore closes purchase of stakes in Alunorte and MRN
Further to the announcement on 27 April 2023, Glencore and Norsk
Hydro ASA ("Hydro") have today closed the transaction to purchase a
30% equity stake in Alunorte S.A. ("Alunorte") and a 45% equity
stake in Mineracão Rio do Norte S.A. ("MRN").
Glencore has become party to the Alunorte joint venture with
Hydro and the other minority shareholders, and become party to the
MRN joint venture with South32 and Rio Tinto. Glencore will not be
the operator of either asset.
Glencore will have offtake rights for life of mine in respect of
its pro rata share of the production from both Alunorte and
MRN.
Robin Scheiner, Head of Alumina and Aluminium, Glencore,
commented:
"We look forward to working with our new joint venture partners
and the respective management teams at these world class
assets."
For further information please contact:
Investors
Martin Fewings t: +41 41 709 28 80 m: +41 79 737 56 42 martin.fewings@glencore.com
Media
Charles Watenphul t: +41 41 709 24 62 m: +41 79 904 33 20 charles.watenphul@glencore.com
www.glencore.com
Glencore LEI: 2138002658CPO9NBH955
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 60 commodities that advance everyday life. Through a
network of assets, customers and suppliers that spans the globe, we
produce, process, recycle, source, market and distribute the
commodities that support decarbonisation while meeting the energy
needs of today.
With around 140,000 employees and contractors and a strong
footprint in over 35 countries in both established and emerging
regions for natural resources, our marketing and industrial
activities are supported by a global network of more than 40
offices.
Glencore's customers are industrial consumers, such as those in
the automotive, steel, power generation, battery manufacturing and
oil sectors. We also provide financing, logistics and other
services to producers and consumers of commodities.
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.
We recognise our responsibility to contribute to the global
effort to achieve the goals of the Paris Agreement by decarbonising
our own operational footprint. We believe that we should take a
holistic approach and have considered our commitment through the
lens of our global industrial emissions. Against a 2019 baseline,
we are committed to reducing our Scope 1, 2 and 3 industrial
emissions by 15% by the end of 2026, 50% by the end of 2035 and we
have an ambition to achieve net zero industrial emissions by the
end of 2050. For more detail see our 2022 Climate Report on the
publication page of our website at glencore.com/publications .
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Disclaimer
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