By Jaime Llinares Taboada

Glencore PLC said Thursday that it has agreed to sell its CSA copper mine in Australia to Metals Acquisition Corp. for $1.05 billion in cash.

The mining group said the deal includes a $50 million equity stake in MAC and a 1.5% net smelter return royalty.

The parties have also agreed to enter into an offtake agreement for Glencore to buy 100% of the copper concentrate produced at the CSA mine.

MAC is a special purpose acquisition company listed on the New York Stock Exchange.

Write to Jaime Llinares Taboada at jaime.llinares@wsj.com; @JaimeLlinaresT

(END) Dow Jones Newswires

March 17, 2022 07:04 ET (11:04 GMT)

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