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Glencore International PLC Among Suitors For Anglo American PLC's Brazil Amapa Stake-Reuters

Friday, 2 Nov 2012 11:40am EDT 

Reuters reported that at least four suitors including Glencore International PLC are in the bidding process for miner Anglo American PLC's majority stake in the Amapa iron ore operation in northern Brazil. Anglo bought control of Amapa in 2008 from Brazilian billionaire Eike Batista's MMX as part of the $5.5 billion Minas Rio acquisition. But the asset has been deemed non-core and has been on the block since last year. Other bidders in the current second phase of the sale process include Russian steelmaker Severstal' OAO, privately owned mining group Zamin, which was founded by Indian commodities investor Pramod Agarwal and already owns assets in Brazil, and Australia's Centaurus Metals Ltd, also already working in the country. 

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11:23am EDT