IGO confirms that it is in exclusive discussions with Glencore in relation to a proposed sale of CSA
IGO's response to media speculation on acquisition of CSA Copper Mine. (Credit: Łukasz Klepaczewski from Pixabay)
IGO Limited (ASX:IGO) (IGO or the Company) notes recent media speculation that the Company may be considering an acquisition of the CSA Copper Mine (CSA) from Glencore.
IGO confirms that it is in exclusive discussions with Glencore in relation to a proposed sale of CSA. However, at this stage, discussions between IGO and Glencore are incomplete and IGO is continuing to conduct due diligence as part of the ongoing sales process. IGO has made no decision and nor has it entered into any definitive acquisition agreement with respect to CSA.
IGO regularly evaluates acquisition opportunities against a range of factors and will only pursue an acquisition if it makes strong strategic and financial sense for its shareholders.
IGO will keep the market informed in accordance with its continuous disclosure obligations, and otherwise does not intend to comment on such matters.
IGO is not aware of any other matter requiring disclosure under the ASX listing rules and confirms it is in compliance with ASX Listing Rule 3.1
Source: Company Press Release