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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 doesn't already own.
Swiss commodities giant Glencore has moved to take full ownership of PolyMet Mining