Page 10 - Polymet Mining News Today

PolyMet Mining Corp. announced today that its independent Special Committee of PolyMets Board of Directors received a non-binding proposal from Glencore AG to acquire all outstanding shares of...

Glencore Plc said on Monday it had proposed to buy the remaining stake in copper miner PolyMet Mining it does not already own for about $71 million.

Swiss mining company Glencore plc (GLEN.L) announced that its unit Glencore AG on June 30 submitted a non-binding proposal to acquire the remaining shares in PolyMet Mining Corp.

U.S. stocks traded mixed midway through trading, with the Nasdaq Composite trading lower on Monday. The Dow traded up 0.16% to 34,462.62 while the NASDAQ fell 0.03% to 13,784.02. The S&P 500, also rose, gaining, 0.07% to 4,453.57.

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Producers of metals and other raw materials rose amid deal activity. Shares of PolyMet Mining more than doubled after the part-owner of a Minnesota copper mine received an offer from larger...

The Swiss mining company has long backed the NorthMet project, prompting labor and ethical concerns by opponents of the proposed copper-nickel mine.

Swiss commodities giant Glencore moved Monday to take full ownership of PolyMet Mining, a company that's developing a copper-nickel mine in northeastern Minnesota with one of Canada’s largest miners, Teck Resources. Glencore already owns 82% of PolyMet Mining and has long been the project's main financial backer. It offered Monday to pay around $71 million to raise that stake to 100%, which would take St. Paul-headquartered PolyMet private.

Switzerland-based minerals developer Glencore has offered to buy the shares of PolyMet Mining Corp. that it doesnt already own.

Swiss commodities giant Glencore has moved to take full ownership of PolyMet Mining