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25	25	[[image:GLEN1.webp]]
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	29	+= Recent Developments =
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	31	+**Sale of BaseCore Metals LP**{{footnote}}https://www.glencore.com/media-and-insights/news/sale-of-basecore-metals-lp{{/footnote}}
	32	+12 July 2022; Glencore today announces the completion of the sale of a royalty package by BaseCore Metals LP ("BaseCore") to Sandstorm Gold Ltd. (“Sandstorm”) for total consideration of US$525 million. BaseCore is owned 50:50 by Glencore and Ontario Teachers’ Pension Plan Board (“OTPP”).
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	35	+Total transaction consideration was comprised of US$425 million in cash and US$100 million in common shares of Sandstorm as of the announcement date, representing an ownership interest in Sandstorm of 5%.
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	38	+BaseCore was created in 2017 as a joint venture limited partnership focused on base metals streams and royalties. Glencore contributed a portfolio of selected royalties, which were valued at US$300 million at the inception of the partnership with OTPP.
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	41	+Glencore expects to receive approximately $300 million in cash and Sandstorm shares for its 50% interest in BaseCore, including retained cash on balance sheet that will be distributed to Glencore after which the intention is to collapse the business.
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28	28	= Financial Highlights =
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30	30	Group net income attributable to equity holders improved from a loss of $1,903 million in 2020 to an income of $4,974 million in 2021, after recognising various significant items discussed below. EPS increased from negative $0.14 per share to positive $0.38 per share.
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323	323	= (% id="cke_bm_3073S" style="display:none" %) (%%)Company History =
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326	326	Glencore was founded in 1974. Today, Glencore is one of the world’s leading diversified natural resource companies, producing and trading more than 90 commodities.{{footnote}}https://www.glencore.com/who-we-are/our-history{{/footnote}}
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354	354	|2018|The company acquire the Hail Creek coal mine – a large-scale, long-life and low cost operation located in central Queensland, Australia.
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358	358	= References =
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360	360	{{putFootnotes/}}