Glencore Xstrata lifts stake in Congolese miner

19th Dec 2013 07:10

Glencore Xstrata has bought up another chunk of Congolese copper and cobalt producer Mutanda Mining for 430m dollars cash. The FTSE 100 group snapped up the remaining 14.5% indirect equity interest held by High Grade Minerals SA to increase its controlling stake to 69%. The remaining equity in Mutanda is held by a subsidiary of Dutch investment outfit Fleurette Properties.OH