BusinessWeek.com - Europe - Mar 02, 2010Glencore Holding AG
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Kieran Daly
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Investec SecuritiesThe company may bring in a partner to help fund a buyback.
Glencore is in talks with potential partners including Brazil's Vale SA, the world's second largest mining company, and the same Singaporean sovereign wealth fund that bought some of its debt in December, the London based Times reported Feb. 22. Carlos Perezagua, a
Glencore spokesman in Baar, declined to comment.
Contract prices for energy coal may rise 21 percent this year on higher demand from China, Investec Plc analysts Rebecca O'Dwyer and Kieran Daly wrote in a Feb. 25 report. In addition to buying and selling commodities,
Glencore owns zinc mines in Peru and Kazakhstan, coal mines in South Africa, and smelts copper in the Philippines. The Baar based company, which employs 2,000 people in its trading operations, could hold an IPO by the end of 2014, said Aviva's Pitkanen, which is when the convertible bonds are due.
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The company may bring in a partner to help fund a buyback. <span class="company">Glencore</span> is in talks with potential partners including Brazil's Vale SA, the world's second largest mining company, and the same Singaporean sovereign wealth fund that bought some of its debt in December, the London based Times reported Feb. 22. Carlos Perezagua, a <span class="company">Glencore</span> spokesman in Baar, declined to comment.<span class="sent"> Contract prices for energy coal may rise 21 percent this year on higher demand from China, Investec Plc analysts Rebecca O'Dwyer and <span class="analyst">Kieran Daly</span> wrote in a Feb. 25 report.</span> In addition to buying and selling commodities, <span class="company">Glencore</span> owns zinc mines in Peru and Kazakhstan, coal mines in South Africa, and smelts copper in the Philippines. The Baar based company, which employs 2,000 people in its trading operations, could hold an IPO by the end of 2014, said Aviva's Pitkanen, which is when the convertible bonds are due.
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