Glencore Plc (GLEN.L) offered $71 million to buy PolyMet Mining (PLM.A)’s remaining ownership on Monday.
Swiss commodity trader owns 82.26% of PolyMet.
Glencore is bidding more for Canada’s Teck Resources (TECKb.TO) to get exposure to energy transition metals, including copper and nickel.
Reuters estimates Glencore’s $2.11 per share non-binding cash offer values PolyMet at $410 million.
PolyMet rose to $1.87 premarket.
