Glencore Xstrata Studying $3B Congo Iron Ore Mine

Base Metals Investing

Mining and commodities giant Glencore Xstraa Plc (GLEN) will proceed with a study into an iron mine in the Republic of Congo costing up to $3 billion, Bloomberg reported.

Mining and commodities giant Glencore Xstraa Plc (LSE:GLEN) will proceed with a study into an iron mine in the Republic of Congo costing up to $3 billion, Bloomberg reported.

As quoted in the market news:

The assessment, with partner Zanaga Iron Ore Co., “is now being advanced on the basis of a staged development, substantially reducing the initial capital requirement and including the potential for initial production using existing infrastructure,” Baar, Switzerland-based Glencore said today in a statement.

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