Glencore Sells Partial Osisko Stake; No Update on Pine Point Zinc Mine Restart

Glencore Canada has agreed to sell 21.5 million Osisko Metals common shares to a third party for C$34.3 million. Following the transaction, Glencore’s holding will decline from about 128 million shares, or 14.3% on a non-diluted basis, to about 106 million shares, or 11.9%.

Osisko owns the past-producing Pine Point and Gaspé copper-zinc mines in Canada and intends to bring them back into operation. The transaction represents a shareholder-level ownership adjustment only; no update was provided on project financing, construction, restart timing, resources or prospective zinc supply.