Glenstrata Set to Build Up Iron Ore Business

Mar. 05, 2012 03:26PM PST

Reuters reported with the Glencore (LSE:GLEN) and Xstrata (LSE:XTA) merging the company is planning to build an iron ore empire.

As quoted in the market news:

…industry sources caution that without a major deal, any hopes the two will swiftly repeat their coal success in iron ore — a lucrative markets which is mostly concentrated in a few companies’ hands — may be disappointed.
Iron ore has become a major contributor to diversified miners’ profits, making up between 40 and 70 percent of earnings at Anglo American (AAL.L), Rio Tinto (RIO.L) and BHP Billiton (BLT.L).

Click here to read the full Reuters report.

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