Glencore Xstrata Plc, the fourth- largest mining company, revived its interest in bidding for the Canadian iron-ore operations that Rio Tinto Group is seeking to sell, according to two people familiar with situation.
China Minmetals Corp., the nation’s biggest state-owned metals trader, is likely to drop out of the bidding for Rio Tinto Group’s controlling stake in Iron Ore Co. of Canada, according to two people with knowledge of the matter.
Gecamines, the Democratic Republic of Congo’s state-owned miner, may take action against some of its partners after an audit of its joint ventures showed the company has been treated unfairly, Chairman Albert Yuma said.
Citic Metal Co., a unit of Chinese state-backed conglomerate Citic Group Corp., joined China Minmetals Corp. in bidding for Glencore Xstrata Plc’s copper project in Peru, said two people with knowledge of the matter.
Mauritania granted an iron-mining license to Tazadit Underground Mines Co., a joint venture between China Minmetals Corp. and state-owned Societe Nationale Industrielle et Miniere, Agence Mauritanienne d’Information reported.
China Minmetals Corp., the nation’s biggest state-owned metals trader, said the recent drop in share valuations of global mining companies is throwing up “a lot of opportunities” for potential acquisitions.