Glencore Said to Close In on Sale of Kazzinc Mining Operations

Glencore Plc is in talks to sell its stake in Kazzinc Ltd. in Kazakhstan to local businessman Shakhmurat Mutalip as part of a series of deals that could reshape the country’s vast mining landscape.

Mutalip, the owner of infrastructural building group Integra Construction KZ, is in discussions with Glencore to purchase the miner’s 70% stake in zinc and gold producer Kazzinc, according to people familiar with the matter, who asked not to be identified as the talks are private. The deal could be worth between roughly $4 billion and $4.5 billion, and Glencore may extend funding for the purchase, they said.