Glencore Said to Withdraw Kazzinc Sale After Offers Fall Short

Glencore Plc has abandoned plans to sell its stake in Kazakh mining company Kazzinc after potential buyers failed to match its valuation, people familiar with the situation said.

Glencore had been considering exiting the business, in which it holds a 70% stake, amid interest from Chinese buyers. The company has now sent a termination letter to the bidders, the people said, asking not to be identified discussing a private matter.

A Glencore spokesperson declined to comment.

Read more: Glencore Is Said to Weigh Selling Stake in Kazakh Miner Kazzinc

Kazzinc is made up of a sprawling network of mines, concentrators ...