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Glencore (OTCPK:GLCNF) (OTCPK:GLNCY) is considering selling its stake in Kazakh mining company Kazzinc, in a deal that could value its nearly 70% holding at several billion dollars, Bloomberg reported Wednesday.
Glencore (OTCPK:GLCNF) (OTCPK:GLNCY) also is in the process of selling the Kazzinc-operated Vasilkovskoye gold mine, according to the report, after scrapping an attempted sale more than seven years ago.
The operation consists of a sprawling network of mines, concentrators and metal finishing plants across Kazakhstan that allow the company to go from digging ore to producing finished zinc metal and products.
Kazzinc’s FY 2023 production totals included 27.5K tons of zinc, 35.6K tons of lead, 14.8K tons of copper, and 598K oz of gold.
