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