Glencore Sells Royalty Package to Sandstorm for $525 Million
13 Julho 2022 - 2:31AM
Dow Jones News
By Jaime Llinares Taboada
Glencore PLC said late Tuesday that it completed the sale of a
royalty package to Sandstorm Gold Ltd. for $425 million in cash and
$100 million in Sandstorm shares.
The commodity giant had a 50% interest in the royalty package
and said that it expects to receive about $300 million in cash and
shares for its shareholding.
BaseCore Metals LP, the holding company for the royalty package,
was created in 2017 as a joint-venture partnership with the Ontario
Teachers' Pension Plan Board focused on base-metal streams and
royalties. Glencore contributed with a portfolio of royalties
valued at $300 million at the start of the partnership.
Write to Jaime Llinares Taboada at jaime.llinares@wsj.com;
@JaimeLlinaresT
(END) Dow Jones Newswires
July 13, 2022 01:16 ET (05:16 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
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