Glencore Acquires Stake in Ferrous Resources

Bloomberg reported that Glencore International Plc has purchased a stake in Brazil iron ore miner, Ferrous Resources Ltd., to bolster its position in the market for iron ore.

As quoted in the market news:

Glencore negotiated directly with investors in closely held Ferrous, the Belo Horizonte-based company said today in a statement, confirming an earlier report by Bloomberg News. It didn’t give the size of the stake bought by the largest publicly traded commodities supplier.

Click here to read the full Bloomberg report.