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MaxMarioni's Insights

Insights for June 2017

Posted by MaxMarioni on 25 June 2017, 9:58 AM

Glencore Seeks Rio Tinto's Mines

Other Insights on Related Shares: GLEN.L, RIO.L

In continued negotiations for a deal that would see considerable upheaval in the global mining market, Glencore (GLEN:LN), the biggest coal miner in the Australasian region, has upped the ante in its pursuit of Rio Tinto's (RIO:LN) Hunter Valley mines. The Swiss commodity trading colossus has tabled an offer in the region of $225 million in excess of another offer, by Chinese firm Yanzhou Coal mining, which was already unofficially accepted by Rio Tinto's board. In addition to the raised bid, Glencore offered new incentives, such as a large deposit and hedges against regulatory delays, as well as clarifying issues concerning funding. (Read more)

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