M&A Deal Summary

Glencore Acquires PolyMet

On November 7, 2023, Glencore acquired metals/mining company PolyMet

Acquisition Highlights
  • This is Glencore’s 7th transaction in the Metals/Mining sector.
  • This is Glencore’s 1st transaction in the United States.
  • This is Glencore’s 1st transaction in Minnesota.

M&A Deal Summary

Date 2023-11-07
Target PolyMet
Sector Metals/Mining
Buyer(s) Glencore
Deal Type Add-on Acquisition

Target

PolyMet

Saint Paul, Minnesota, United States
PolyMet is a mine development company. PolyMet was founded in 1998 Saint Paul, Minnesota.

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Buyer(S) 1

Buyer

Glencore

Baar, Switzerland

Category Company
Founded 1974
Sector Metals/Mining
Employees83,426
Revenue 217.8B USD (2023)
DESCRIPTION

Glencore is a supplier of physical commodities including energy (oil and coal), base metals, soft commodities, and agriculture to industrial consumers. These commodities originate from Glencore's directly or indirectly owned production assets or are secured by Glencore from third parties. Glencore also provides financing, logistics, and other supply chain services to producers and consumers of commodities. Glencore was founded in 1974 and is based in Baar, Switzerland.


DEAL STATS #
Overall 9 of 9
Sector (Metals/Mining) 7 of 7
Type (Add-on Acquisition) 6 of 6
State (Minnesota) 1 of 1
Country (United States) 1 of 1
Year (2023) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-28 Gaspe Copper Mine

Murdochville, Quebec, Canada

Gaspe Copper Mine is a provider of copper concentrate continuously from 1955 until the closure of the mine in 1999. Gaspe Copper Mine is based in Murdochville, Quebec.

Sell $25M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-11-15 Chemoil Energy Services

Oklahoma City, Oklahoma, United States

Chemoil Energy Services is a distributor of diesel fuel and lubricants for US onshore frac and drilling applications. Additionally, Chemoil provides a market-leading proprietary automated fueling system, as well as mobile maintenance and cleaning services to the fracking equipment market. Chemoil Energy Services was founded in 2011 and is based in Oklahoma City, Oklahoma.

Sell -