By Matthew Campbell, Zijing Wu, and Jesse Riseborough
Bloomberg News
Monday, October 6, 2014
Glencore Plc is laying the groundwork for a potential merger with Rio Tinto Group (RIO) in the next year that would create the world’s largest mining company, worth about $160 billion, according to people familiar with the situation.
As a preliminary step, Glencore has reached out to Aluminum Corp. of China, the Chinese state-backed company that is Rio’s largest shareholder, to gauge its interest in a potential deal, said two of the people, who asked not to be identified because the matter is private. The discussions with the company, which is known as Chinalco and controls about 9.8 percent of Rio, took place in recent weeks, one of them said.
... For the remainder of the report:
http://www.bloomberg.com/news/2014-10-06/glencore-said-to-lay-groundwork... [1]
Join the Sprott Precious Metals Roundtable on Tuesday, Oct. 7
Sprott Asset Management's Eric Sprott, Rick Rule, and John Embry will get together for an hour at 2 p.m. ET Tuesday, October 7, to discuss the prospects for the precious metals, and you can join them via the Internet. Just register here:
https://event.on24.com/eventRegistration/EventLobbyServlet?target=reg20.... [2]
Join GATA here:
New Orleans Investment Conference
Hilton New Orleans Riverside Hotel
New Orleans, Louisiana
Wednesday-Saturday, October 22-25, 2014
https://jeffersoncompanies.com/landing/noic2014?IDPromotion=614011014520... [3]
Mines and Money London
Business Design Centre
London, England, U.K.
Monday-Friday, December 1-5, 2014
http://www.minesandmoney.com/london/ [4]
* * *
Support GATA by purchasing DVDs of our London conference in August 2011 or our Dawson City conference in August 2006:
http://www.goldrush21.com/order.html [5]
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Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:
http://gata.org/node/wallstreetjournal [7]
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