Glencore sells remaining stake in Tampakan

Global mining and trading giant Glencore said on Wednesday, 24 June 2015, it had sold its entire remaining interest in the Tampakan Copper-Gold Project in the Philippines.

This sale comes after Glencore disposed of its shares in Australia-based Indophil Resources in January 2015. Indophil Resources, whch focuses on exploration and development of gold and copper-gold opportunities in South East Asia, owns Tampakan.

Glencore said the Tampakan sale included a number of conditions precedent that were required to be obtained before June 30.

Details of the sale would be made available following certain administrative steps after the completion date, it said.

Source: INET BFA