The news of Glencore and Rio’s discussions “has turned up the temperature on an already simmering M&A environment,” RBC Capital Markets analyst says.
The move is expected to become effective Jan. 23, subject to approvals such as a final court order from the Supreme Court of British Columbia.
The company now expects production of 380,000–440,000 tonnes copper this year, down from earlier estimates of 400,000–450,000 tonnes.
The Barro Alto and Niquelandia mines have attracted interest of bidders from “different nationalities and backgrounds,” says its CEO in Brazil.
