Glencore Canada Trims Osisko Metals Stake to 11.9% Amid Commodity Cycle Rebalancing

Glencore Canada has reduced its stake in Osisko Metals from approximately 14.3% to 11.9% after selling 21.5 million common shares for C$34.3 million.

The sale was conducted through a private agreement with a third-party buyer, bypassing open market sales and avoiding potential price depression.

Glencore Canada retains its warrant position in Osisko Metals, holding 3,431,222 warrants that preserve the right to acquire additional shares at a predetermined price at a future date.

The Glencore-Osisko relationship began in 2023 when Osisko acquired the Gaspé Copper project from Glencore, repositioning Glencore as an equity holder rather than asset owner.