on PPX Mining Corp (CVE:PPX)
PPX Mining Corp. Signs Agreement with Glencore for Strategic Investment
PPX Mining Corp. has announced a binding Letter of Intent with Glencore Peru S.A.C. to advance its Igor Project in Peru. The agreement includes a strategic equity investment by Glencore, securing 9.99% of PPX's shares at a premium price, along with a life-of-mine precious-metals concentrate offtake.
The deal allows Glencore a board seat and guarantees off-take rights for the project's metal concentrates. Funds from the investment will support plant construction and exploration activities.
In addition, the collaboration will leverage Glencore Technology to optimize operations at PPX's developing facilities. The deal is contingent on due diligence and regulatory approvals. Both companies expressed optimism about the partnership's potential to advance the Igor Project.
R. H.
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