FTSE 100-listed integrated commodities producer Glencore International has reportedly purchased a stake in Ferrous Resources and is considering increasing its holding further, a news report published by Bloomberg alleged on Wednesday, citing "people with knowledge of the matter" as its sources.
According to the news article, which cited two unnamed people who it said had asked "not to be identified as the information is confidential", the commodities trading company reached an agreement with Ferrous to offer further funding by March 31st to help develop its Viga mine in exchange for a bigger stake.
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