Australia's IGO in exclusive talks to buy Glencore's CSA copper mine

MAC Copper

20/02/2022 23:34

Feb 21 (Reuters) - Australian miner IGO Ltd  IGO.AX  said on
Monday it was in exclusive discussions to buy UK-based miner
Glencore Plc's  GLEN.L  CSA copper mine in New South Wales
state.
    IGO is conducting due diligence and talks between the
companies have not been completed, it said in response to a
media report that it had beaten out special purpose acquisition
company Metals Acquisition Corp  MTAL.N  for the mine. (https://bit.ly/3v4pJh4)
    "IGO has made no decision and nor has it entered into any
definitive acquisition agreement with respect to CSA," it said
in a statement.
    The CSA mine is one of Australia's highest-grade copper
mines and produces about 50,000 tonnes every year, according to
Glencore's website.
    IGO has been dealmaking in recent months, offering A$1.10
billion ($789 million) for nickel producer Western Areas
 WSA.AX  in December, and buying Tianqi Lithium's  002466.SZ 
Australian assets for A$1.4 billion in June.  urn:newsml:reuters.com:*:nL4N2T10QF
 urn:newsml:reuters.com:*:nL2N2OC0QS
    
($1 = 1.3941 Australian dollars)

 (Reporting by Harshita Swaminathan; editing by Stephen Coates)
 ((Harshita.Swaminathan@thomsonreuters.com;))