Glencore invests in PolyMet

摘要

PolyMet Mining (pom-t, plm-x) is offering to sell 30 million US dollars worth of shares to Glencore International as it works towards securing final permitting of its NorthMet open-pit polymetallic project in northeastern Minnesota. The deal sees PolyMet selling 15 million shares at 2 US dollars each in three tranches of 10 million US dollars. The first tranche should close in January 2011, the second in October 2011 and the third either by late 2012 or shortly after PolyMet receives key permits for its NorthMet project.