Wrap Text
GLN - Glencore closes sale of Ernest Henry Mine
GLENCORE PLC
(Incorporated in Jersey under the Companies (Jersey) Law 1991)
(Registration number 107710)
JSE Share Code: GLN
LSE Share Code: GLEN
ISIN: JE00B4T3BW64
LEI: 2138002658CPO9NBH955
Baar, Switzerland / Sydney, Australia
6 January 2022
Glencore closes sale of Ernest Henry Mine
Glencore and Evolution Mining Limited (Evolution) have today closed the sale and purchase
of Glencore’s 100% interest in Ernest Henry Mining Pty Ltd, the owner of the Ernest Henry
Mining (EHM) copper-gold mine in Queensland, Australia.
Glencore has received A$800 million and will receive a further A$200 million in 12 months time.
In addition, by reason of Evolution’s acquisition of Ernest Henry, from today, all agreements
implementing the economic joint ventures between Glencore and Evolution entered into on
23 August, 2016 have ended and Glencore has no further obligation to deliver any gold, copper
concentrate or other metals under these agreements from 1 January 2022. Evolution also
assumes all rehabilitation obligations and liabilities and will replace Glencore’s rehabilitation
bonds.
Glencore will offtake 100% of the copper concentrate produced at EHM.
Glencore will continue to be among Australia’s leading producers and exporters of the green
metals that underpin the global transition to a low-carbon future.
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
Francis de Rosa t: +61 417 074 751 m: +61 417 074 751 francis.de.rosa@glencore.com
www.glencore.com
Notes for Editors
Glencore
Glencore is one of the world’s largest global diversified natural resource companies and a major producer
and marketer of more than 60 responsibly-sourced commodities that advance everyday life. The Group's
operations comprise around 150 mining and metallurgical sites and oil production assets.
With a strong footprint in over 35 countries in both established and emerging regions for natural
resources, Glencore's industrial activities are supported by a global network of more than 30 marketing
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's companies employ around 135,000 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. Our ambition is to be a net zero total emissions company by 2050.
Glencore Australia
In Australia, Glencore produces coal, copper, cobalt, nickel, zinc, lead, silver and gold from 25 mining
operations. We also operate metals processing assets in Queensland, New South Wales, Western
Australia and the Northern Territory, including metals smelters, concentrators and refineries.
We are among Australia’s largest producers and marketers of natural resources, connecting Australian
resources with industrial customers around the world. Through our diverse portfolio, we responsibly
supply the resources that advance everyday life.
We employ approximately 17,000 people in Australia and in 2020 contributed over $13.8 billion to the
regional, state and national economies. This included spend of $9.5 billion with 7,890 businesses across
the country, as well as $2.1 billion in government tax and royalty payments.
We are committed to providing a safe, inclusive and respectful workplace for our people, to respecting
the environment, to engaging openly and constructively with the Traditional Owners on whose lands we
operate and to bringing value to local communities.
Follow us on social media:
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Disclaimer
The companies in which Glencore plc directly and indirectly has an interest are separate and distinct legal entities.
In this document, “Glencore”, “Glencore group” and “Group” are used for convenience only where references are
made to Glencore plc and its subsidiaries in general. These collective expressions are used for ease of reference only
and do not imply any other relationship between the companies. Likewise, the words “we”, “us” and “our” are also
used to refer collectively to members of the Group or to those who work for them. These expressions are also used
where no useful purpose is served by identifying the particular company or companies.
Sponsor
Absa Corporate and Investment Bank, a division of Absa Bank Limited
Date: 06-01-2022 09:00:00
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