Glencore Considering Sale of Majority Stake in Kazzinc

Glencore is reportedly exploring the sale of its majority stake in Kazakh mining group Kazzinc, insiders revealed to Bloomberg News. Glencore holds nearly 70 percent of Kazzinc, which primarily produces zinc.

Sources indicate that there is interest from potential buyers in China, with the deal potentially valuing Glencore's holding at several billion dollars. Additionally, Glencore is said to be in the process of selling the Vasilkovskoye gold mine, operated by Kazzinc, which involves reviving a deal that was abandoned more than seven years ago.

While discussions are at an early stage and may not result in a transaction, the possibility of such a significant deal has garnered attention. Glencore has declined to comment on the matter.