* At least four bidders in second phase of sale – sources
* Anglo owns 70 percent of Amapa
* Amapa targets 5.5 million tonnes of iron ore in 2012
By Clara Ferreira-Marques and Silvia Antonioli
LONDON, Nov 2 (Reuters) – At least four suitors including
commodities trader Glencore are in the bidding process
for miner Anglo American’s majority stake in the Amapa
iron ore operation in northern Brazil, according to sources
familiar with the matter.
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,
privately owned mining group Zamin, which was founded by Indian
commodities investor Pramod Agarwal and already owns assets in
Brazil, and Australia’s Centaurus, also already working
in the country.
Glencore has ambitions to grow in iron ore, a key
steel-making ingredient in which it is not currently a major
player, but the commodities trader has also been selective on
the assets it targets.
Glencore, Severstal and Zamin declined to comment. It was
not immediately possible to reach Centaurus.
Continued…
