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Glencore buys big into Brazilian bauxite as Vale divests

Swiss-based mining company Glencore is poised to become the largest shareholder of Brazil’s largest bauxite producer, Mineração Rio do Norte S.A. (MRN), through a transaction that will see Vale sell its stake in the joint venture.

Glencore buys big into Brazilian bauxite as Vale divests Glencore buys big into Brazilian bauxite as Vale divests Glencore buys big into Brazilian bauxite as Vale divests Glencore buys big into Brazilian bauxite as Vale divests Glencore buys big into Brazilian bauxite as Vale divests

MRN has an annual production capacity of about 12.5Mt of bauxite while Alunorte has a nameplate capacity of 6.3Mt/year.

The Swiss company will also acquire 30% of the Brazilian alumina refinery Hydro Alunorte, the world's largest alumina refinery outside China, from Hydro.