Glencore Becomes Major Shareholder in Atlas Iron
Glencore Plc, the Anglo–Swiss multinational commodity trading and mining company, has become a substantial holder of shares in the Australian miner Atlas Iron Ltd. By this it has acquired a new source of iron ore for its marketing business. In 2015, Glencore had acquired some of the debts of Atlas Iron. A portion of this is now being converted into shares with the restructuring of the Australian company. With this, the Glencore-controlled Maru Sky Ltd will hold 8.5% stake in the company.
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