Glencore and Secover terminated the Anthill Project Agreement with Austral Resources for a $51.98 million settlement.
Austral Resources gains immediate control over copper production from the project.
The settlement includes a $37.6 million cash payment.
The deal also involves issuing 159.83 million shares to the settling parties.
Glencore’s Canadian subsidiary reduced its stake in Osisko Metals from 14.3% to 11.9%.
The company sold 21.5 million shares through a private agreement.
The transaction generated proceeds of C$34.3 million.
Glencore maintains its remaining shares for investment purposes and will continue to evaluate its position.