re Glencore:Glencore shareholders believe the commodities group...

re Glencore:
Glencore shareholders believe the commodities group is poised to bid up to £400m for full control of Congolese copper and cobalt producer Katanga Mining to take advantage of plunging prices.
The speculation comes as Glencore becomes free to issue shares for acquisitions following its £40bn mega float in May. Key investors such as GIC, the Singaporean sovereign wealth fund, were also freed of their obligation to hold on to their collective 5% stake.
Dominic O'Kane, an analyst at Liberum Capital, said: "I wouldn't be surprised if Glencore went for Katanga, they have already bought out the minorites in Minara [the Australian nickel producer]."
Glencore has owned 74% of Katanga, which is listed on the Canadian stock exchange, since 2008. Katanga's mines, which also produce cobalt, are located in the copper belt within the Democratic Republic of Congo (DRC), a country that has been ravaged by civil war and corruption.
But a leading Glencore stakeholder asserted: "Katanga is forecast to produce more than 300,000 tonnes of copper by 2015. It's just the sort of asset that Ivan Glasenberg [Glencore's' chief executive] would like to take full ownership of. The potential is enormous even though there is political risk operating in DRC."