Glencore To Acquire Newmont's Shareholding In MARA Project

(RTTNews) - Glencore International AG and Newmont (NEM, NGT.TO) have reached an agreement in which Glencore will acquire Newmont's 18.75% shareholding in the MARA Project. Following completion, Glencore will own 43.75% of MARA. Glencore will pay $124.9 million upon closing and a $30 million deferred payment. Total deferred consideration is capped at $50 million, the company noted.

The MARA Project, located in the Catamarca province of Argentina, is a joint venture formed in December 2020. Under the new structure, Yamana Gold will remain the operator with 56.25% of MARA.