By Ian Walker

 

Glencore PLC confirmed Tuesday that it is selling the holding companies that own its Bolivian zinc assets to Santacruz Silver Mining Ltd. for up to $110 million.

The Anglo-Swiss commodity trading and mining company said that it will get $20 million upon completion of the sale, which is expected within the next three months. The rest will be paid within four years.

Earlier Tuesday the Wall Street Journal reported that Glencore was planning to sell a number of zinc assets in Bolivia citing a person familiar with the matter, as new Chief Executive Gary Nagle begins a process of streamlining the sprawling commodities giant.

 

Write to Ian Walker at ian.walker@wsj.com

 

(END) Dow Jones Newswires

October 12, 2021 11:07 ET (15:07 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.
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