RE:RE:RE:RE:Steady descent!Agree with that summary Floridas. History tells us Glencore have little concern about the environment, communities or anything other than profit.
Seems to me there are two issues here. The first is the environmental responsibility detailed in the news release of 25 November concerning the corporate responsibilty of large companies like Glencore. As this was a Swiss led issue and Glencore has it's head office in Geneva they cannot ignore this.
Secondly no resource figures have been released on the Quiulacocha deposit and Glencore must have concerns about closing a deal without knowing just what this is. At the same time both the community and the authorities want Glencore out. Glencore also know to mothball the current operation will cost them in excess of $100m and so it's a delicate balance for Glencore between meeting their environmental responsibility and the financial impact of what they are giving up.
It is a deal that both parties need to happen and so I am confident it will, although the delays here are frustrating, but the upside of the delays is that Glencore and not CDPR have had to meet the bulk of the ongoing site costs in the past year due to the covid restrictions.