PolyMet Mining Corp (PLM.A) on Monday accepted Glencore Plc's (GLEN.L) proposal to buy the remaining 18% stake in the company for about $73 million.
PolyMet's stock more than doubled on July 3 after Glencore offered $2.11 per share in cash for the remaining stake.
The acquisition is subject to shareholder approval at a meeting set for the end of the third quarter or early in the final quarter of the year, PolyMet added.
PolyMet is developing a copper-nickel mine in northeastern Minnesota with Canada's Teck Resources (TECKb.TO), another company which is on Glencore's radar.
