Deals
Glencore Considering Bid for Impala’s Chrome Waste Business
- Chrome is produced as a byproduct of platinum mining
- Operation produces 200,000 tons of chrome concentrate
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Glencore Plc, the mining and trading firm run by billionaire Ivan Glasenberg, is considering a bid for Impala Platinum Holdings Ltd.’s 65 percent stake in a chrome waste-retreatment operation in South Africa, two people familiar with the matter said.
Glencore already has an agreement to buy metal from Chrome Traders Processing (Pty) Ltd., the closely held company that owns 30 percent of the business controlled by Impala. Glencore, which has chrome assets nearby, is bullish on prices and keen to grow its presence in the industry that supplies stainless steelmakers with the ingredient that prevents corrosion, said one of the people, who asked not to be identified because the information is private.