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Glencore completes acquisition of Minnesota-based PolyMet; latter holds 50% interest in NewRange Copper Nickel, a joint venture with Canada's Teck Resources

PolyMet Mining accepts Glencore's $73M proposal for remaining 18% stake; PolyMet is developing a copper-nickel mine in northeastern Minnesota , in partnership with Canada's Teck Resources

Glencore proposes to acquire all remaining shares of PolyMet Mining for US$2.11 each, reflecting 167% premium over market value as of June 30; PolyMet reviewing offer and shareholders are advised that no official decision has been made

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