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 dont know if thats public knowledge yet," he said. "In South Africa, its a very disjointed industry with different players. Is there opportunity for consolidation? Yes. Were interested if people want to sell at the right price."
The Baar, Switzerland-based company acquired Vale SAs 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 companys 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.