Evolution Mining to acquire Ernest Henry Mining from Glencore for $733m.

Evolution Mining, a local Australian company, agreed to acquire Ernest Henry Mining, a copper-gold mine in Queensland, Australia, from Glencore, a British–Swiss multinational commodity trading and mining company, for $733m. “The acquisition is consistent with our strategy, materially improves the quality of our portfolio and delivers both strong cashflow and mine life extension opportunities. The site management team have an outstanding track record of operational delivery and we are delighted they will be joining Evolution and look forward to working with them to make this an even better operation. We are also pleased to be continuing our strong relationship with Glencore and that the product will continue to be treated in the local region at its Mt Isa smelter and Townsville refinery," Jake Klein, Evolution Mining Executive Chairman.