Glencore announces acquisition of 31,756,979 common shares of PolyMet and repayment of Bridge Loan

Glencore announces acquisition of 31,756,979 common shares of PolyMet and 
repayment of Bridge Loan 
BAAR, Switzerland, July 5, 2013 /CNW/ - Glencore Xstrata plc announces that 
its indirect, wholly-owned subsidiary, Glencore AG ("Glencore") has acquired 
31,756,979 common shares of PolyMet Mining Corp. ("PolyMet") at US$0.66 per 
common share pursuant to its basic subscription privilege and additional 
subscription privilege under PolyMet's previously announced rights offering 
("Rights Offering"), representing approximately 11.6% of PolyMet's issued and 
outstanding common shares following the Rights Offering. 
Following completion of the Rights Offering, Glencore holds 78,724,821 common 
shares representing approximately 28.6% of PolyMet's issued and outstanding 
common shares. The Rights Offering triggered the customary anti-dilution 
provisions of PolyMet's convertible debenture exchange warrant and purchase 
warrants held by Glencore. The numbers of common shares issuable to Glencore 
under the convertible debenture exchange warrant and purchase warrants have 
been adjusted to 24,083,366 and 6,458,001, respectively, which, if exercised, 
would result in Glencore holding 109,266,188 common shares representing 
approximately 35.8% of the outstanding common shares of PolyMet on a partially 
diluted basis. 
In connection with the closing of the Rights Offering, PolyMet repaid the 
principal amount and all outstanding accrued and unpaid interest thereon of 
the previously announced US$20 million loan ("Bridge Loan") advanced by 
Glencore to PolyMet on April 11, 2013. 
Glencore's decision to participate in the Rights Offering was made for 
investment purposes. Glencore will continue to review its investment 
alternatives from time to time and may determine to increase or decrease its 
equity ownership in PolyMet through the acquisition or sale of additional 
outstanding common shares or other securities of PolyMet through open market 
or privately negotiated transactions in accordance with applicable securities 
laws. Persons who wish to obtain a copy of the early warning report to be 
filed by Glencore in connection with this transaction may obtain a copy of 
such report from or by contacting Glencore's representative 
listed below. 
About Glencore Xstrata 
Glencore Xstrata is one of the world's largest global diversified natural 
resource companies. As a leading integrated producer and marketer of 
commodities with a well-balanced portfolio of diverse industrial assets, we 
are strongly positioned to capture value at every stage of the supply chain, 
from sourcing materials deep underground to delivering products to an 
international customer base. 
The Group's industrial and marketing activities are supported by a global 
network of more than 90 offices located in over 50 countries. Our diversified 
operations comprise over 150 mining and metallurgical sites, offshore oil 
production assets, farms and agricultural facilities. We employ approximately 
190,000 people, including contractors.  
For enquiries about Glencore Xstrata, including to request a copy of the  
related early warning report, please contact: 
Glencore Xstrata plc Baarermattstrasse 3 CH-6340 Baar Switzerland 
John Burton (Company Secretary) t: +41 (0) 41 709 2619 m: +41 (0) 79 944 5434 
Paul Smith (Investors) t: +41 (0)41 709 2487 m: +41 (0)79 947 1348 
Charles Watenphul (Media) t: +41 (0) 41 709 2462 m: +41 (0) 79 904 33 20 
Martin Fewings (Investors) t: +41 (0) 41 709 2880 m: +41 (0) 79 737 5642 
Elisa Morniroli (Investors) t: +41 (0) 41 709 2818 m: +41 (0) 79 833 0508 
Finsbury (Media) Guy Lamming Dorothy Burwell T: +44 (0) 20 7251 3801 
SOURCE: Glencore Xstrata plc 
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CO: Glencore Xstrata plc
-0- Jul/05/2013 12:58 GMT
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