Almaty. October 11. KazTAG – Glencore International Plc increased its stake in “Kazzinc” from 50.7% to 69.61%, as a report of the Swiss trading company indicates.
“Glencore International announced the completion of the purchase of 18.91% of “Kazzinc” from Verny Investments with release of 176,742,520 new ordinary shares of the company and payment of $400 million,” a press release distributed on Thursday reads.
According to the report, the deal increases Glencore’s share in “Kazzinc” to 69.61%.
Earlier in 3Q of 2012, Glencore was planning to increase their interest in “Kazzinc” to 93%, but later the plans were revised downwards to 69.61%.
“Kazzinc” is a zinc producer with significant copper, precious metals and lead resources in Kazakhstan. The main office is located in Kazakhstan, mainly in the East Kazakhstan region.
Glencore International Plc is a Swiss trader, one of the world's leading integrated producers and marketers of commodities. Glencore has worldwide activities in the production, sourcing, processing, refining, transporting, storage, financing and supply of Metals and Minerals, Energy Products and Agricultural Products. In Kazakhstan, Glencore owns 50.7% participating interest in “Kazzinc”, producer of zinc, lead, copper, gold, etc. “Kazzinc” is the sole owner of the LLC “Altyntau Kokshetau” (renamed as Vasilkovsky mine).