Transition Metals AG agreed to acquire 20.34% stake in Volcan Compañía Minera S.A.A. (BVL:VOLCABC1) for $20 million on May 6, 2024. As part of the transaction, Transition Metals will pay Glencore $20 million and Glencore has agreed to provide a secured facility of up to $40 million to fund certain mandatory tender offer obligations of Transition Metals pursuant to applicable Peruvian laws and regulations. The transaction is not subject to any regulatory approvals and is expected to close this week.