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Sovereign Wealth Funds Briefing - Categorized | Investment, Market

Glencore seeks to buy back $2.5bln Prodeco mine

Posted on 22 February 2010

From Timesonline.co.uk: Glencore, the Swiss commodities trader, is sounding out potential partners as it prepares to buy back the $2.5 billion Prodeco coalmine owned by Xstrata. The Swiss trading group is understood to be discussing a possible deal with Vale, the Brazilian miner, and GIC, the Singaporean sovereign wealth fund.

It is also believed to have held talks with First Reserve, a US-based investment fund, and Alpha Natural Resources, an American coal producer…………………..Full Article: Source


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