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Glencore Strikes Deal For Forecariah Iron Ore Mine Output
Aug. 09, 2012 12:41PM PST
Base Metals Investing Reuters reported Glencore (LSE:GLEN) says it has made a deal to buy at least half of the output from Guinea’s Forecariah iron ore mine.
Reuters reported Glencore (LSE:GLEN) says it has made a deal to buy at least half of the output from Guinea’s Forecariah iron ore mine.
As quoted in the market news:
The world’s largest diversified commodities trader said on Thursday it had reached a deal with Bellzone Mining (BZM.L) to buy its 50 percent of output from Forecariah, a joint venture with China International Fund.
Bellzone’s Chinese partner has “tag-along” rights, meaning it could also sell its slice of production to Glencore.
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