Base Metals

Glencore Strikes Deal For Forecariah Iron Ore Mine Output

Base Metals

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.

Click here to read the full Reuters report.

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