Glencore sees dollar sense in Mt Watson project

FRESH from taking a stake in junior copper explorer Zambezi Resources, major Swiss-based resources company and investor Glencore has agreed to finance another junior, Matrix Metals, through to first copper cathode production from its Mt Watson copper project in Queensland by the third quarter of next year.

Glencore sees dollar sense in Mt Watson project Glencore sees dollar sense in Mt Watson project Glencore sees dollar sense in Mt Watson project Glencore sees dollar sense in Mt Watson project Glencore sees dollar sense in Mt Watson project

The deal caps a tidy couple of months for the Perth-based explorer after another Swiss mining giant Xstrata, in which Glencore holds a 30% stake, agreed to spend $15 million over eight years on copper

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