The Vancouver-based company announced that the weighted price of the 'basket' of metals contained in the ore at the Platreef project rose to a new, multi-year high.
Glencore's funding gets it an 11.58% stake in Group Eleven Resources, which co-owns the Stonepark deposit with Irish gold and zinc junior Arkle Resources.
The Ventanas smelter has been the target of criticism from social and environmental groups that accuse it of contributing to heavy pollution in the Quintero area.