Glencore’s DRC copper top-up wins analyst thumbs up

Diversified mining and marketing company Glencore has bought the remaining 31% stake in Mutanda Mining for $922-million and a further 10.25% stake in Katanga Mining for $38-million from Dan Gertler’s Fleurette Group, the company’s joint venture partner. The all-cash transaction will result in Glencore paying Fleurette a total of $534-million in cash, after taking into account the settlement of outstanding loans payable by Fleurette to Glencore and shareholder loans owed to Fleurette by Mutanda.