Glencore puts CSA on the market

Glencore has announced that the CSA Mine will go on the market after reportedly receiving a number of offers for the mine.

The international mining giant made the announcement on Monday afternoon, saying Cobar’s CSA Mine and the Lomas Bayas copper mine in Chile would both commence the sale process.

It has been rumoured Glencore may be struggling to pay its debts, with the announcement last week that it would axe more than 500 jobs from its Mount Isa operations.

However in its statement on Monday Glencore said the sale is in response to “receiving a number of unsolicited expressions of interest for these mines from various potential buyers”.

“This will allow potential buyers to bid to purchase either one or both of the mines and may or may not result in a sale,” the statement said.

The company has not commented on how the sale process will affect current operations at the mine.