Today, Glencore International AG (GIAG) and Newmont Corporation (NYSE: NEM, TSX: NGT) announced they have reached an agreement in which Glencore will acquire Newmont’s 18.75% shareholding in the MARA Project (MARA). Following completion of the transaction, Glencore will own 43.75% of MARA. Under the terms of the agreement, Glencore will pay $124.9 million upon closing and a $30 million deferred payment upon commercial production subject to an annual interest charge of 6%. Total deferred consideration is capped at $50 million. The closing of the transaction is subject to customary conditions and regulatory filings. The MARA Project, located in the Catamarca province of Argentina, is a joint v(…) Read More »