WASHINGTON (dpa-AFX) - Glencore Plc (GLNCY, GLEN.L), an Anglo-Swiss diversified natural resource company, on Wednesday announced that it has finalised an agreement with Gécamines regarding land access for Kamoto Copper Co., unlocking a package of long-term mining titles and leases.
The financial terms were not disclosed.
Gécamines retains rights to any ore reserves extracted from within the leased land package.
The company said that the registration of the mining title lease agreements in the mining cadastre is expected in the coming months.
The agreement allows expansion of tailings storage facilities and waste rock dump capacities, supporting an extension of KCC's life of mine.
The deal also enables maximised recovery of ore reserves within existing exploitation permits, including the KOV and T17 mining areas.
On Tuesday, Glencore closed trading 1.40% lesser at 486 pence on the London Stock Exchange.
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