BHP keen on more copper but has ‘moved on’ from Anglo American
BHP is looking for growth opportunities in the copper sector after failing to take over Anglo American earlier this year.
Miner Galan Lithium said on Thursday it has signed a five-year agreement with a Glencore unit for supply of lithium chloride concentrate from Galan’s Hombre Muerto West project in Argentina.
Glencore has also offered to provide a financing prepayment facility between $70 million and $100 million to support funding of phase 1 of the project, according to Galan.
The supply agreement will start once commercial production begins at phase 1 of the Argentina project, which is expected in the first half of 2025.
Glencore will have the first right to negotiate for marketing and financing regarding future expansion of phase 2 of the Hombre Muerto West project, Galan said.
(By Shivangi Lahiri; Editing by Shounak Dasgupta)
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