Glencore rejects an approach to its DRC operations in the last year

Glencore, a commodity and mining trader, said that it rejected a non-invited approach by an unknown buyer at the end of the last year for its operations in Democratic Republic of Congo.

In an email, a spokesperson stated that Glencore had not hired any advisors or banks and was not conducting a sale for its operations in DRC.

The Financial Times had reported earlier in the day that the miner considered selling all or part of its Congolese assets, and held preliminary discussions regarding its copper and coal mines in this region.

Glencore refused to identify the buyer when Glencore was contacted by.

The FT report boosted the FTSE 100 shares by as much as 4,8%. By 1357 GMT, they were up 3% and among the top gainers of the benchmark index.

Glencore, which is one of the largest producers of coal, base metals and other commodities in the world, approached Rio Tinto about merging the two biggest copper producers to create the biggest listed mining company in the world, according to a January report.

(source: Reuters)