off-the-wire

Peruvian miner Volcan confirms Glencore exploring 23% stake sale

Kitco Media
By Reuters
Published:
Updated:
Reuters

LIMA, Feb 15 (Reuters) - Peruvian miner Volcan confirmed on Wednesday that Swiss commodity giant Glencore is exploring a sale of its 23% stake in the South American silver and zinc producer.

In a regulatory filing, Volcan said it had received a letter from Glencore stating it had "begun to explore the process of possible disposition of 23.3% of its participation" in the firm.

Glencore had earlier Wednesday reported the potential sale as part of its preliminary fourth-quarter financial results.

Glencore also has a stake in the copper mine Antapaccay, whose operation has been disrupted by the protests against Peruvian President Dina Boluarte.


In a separate regulatory filing Wednesday, Volcan said it had earlier suspended trading of its Class "A" common shares and Class "B", listed on the Lima Stock Exchange.

Peru is the world's second largest producer of copper, silver and zinc.

(Reporting by Marco Aquino; Editing by Isabel Woodford and Simon Cameron-Moore)

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