Copying and distributing are prohibited without permission of the publisher
Email a friend
  • To include more than one recipient, please separate each email address with a semi-colon ';', to a maximum of 5

Glencore Xstrata might mull manganese ore buy: exec

Keywords: Tags  Glencore Xstrata, Ivan Glasenberg, manganese ore, manganese alloy, Vale, BHP Billiton, Tasmanian Electro Metallurgical, Temco Janie Davies

LONDON — Glencore Xstrata Plc would be interested in acquiring manganese ore assets at the right price and sees consolidation in the South African market, chief executive officer Ivan Glasenberg said.

"Does (manganese ore) fit into the game of Glencore? Yes," he told journalists Sept. 10 at a briefing in London.

"We recently invested in a small operation. I don’t know if that’s public knowledge yet," he said. "In South Africa, it’s a very disjointed industry with different players. Is there opportunity for consolidation? Yes. We’re interested if people want to sell at the right price."

The Baar, Switzerland-based company acquired Vale SA’s European manganese alloy operations for $160 million in 2012, sparking speculation that its next move could be to secure its own upstream supply. It also signed up to act as the Rio de Janeiro-based mining company’s agent for manganese ore.

Glencore Xstrata has expressed its intention to expand its ferroalloys presence and has been named as a potential bidder for BHP Billiton Ltd.’s Tasmanian Electro Metallurgical Co. (Temco) plant in Australia.

A version of this article was first published in AMM sister publication Metal Bulletin.

Have your say
  • All comments are subject to editorial review.
    All fields are compulsory.

Latest Pricing Trends