Glencore in Canadian Fe (etc?) Acquisition ModeiNVEZZ.com, Monday, December 9 2013: Glencore Xstrata (LON:GLEN) has resumed talks with Rio Tinto (LON:RIO) over the potential sale of Rio’s Canadian iron-ore operations (including RR to Port & adding-value Plants), Bloomberg has reported. The 59 percent interest in Iron Ore Co. is among assets that Rio Tinto is trying to dispose of in order to focus on its most profitable operations. According to analysts at Credit Suisse, the majority stake may be valued at as much as $3.5 billion (£2.1 billion). Rio has hired Credit Suisse and Canadian Imperial Bank of Commerce to sell the whole stake or a part of it. China Minmetals Corp., the country’s largest state-owned metals trader, was reported in October as being likely to abandon bidding for the stake because it considered the price asked by London-based Rio as too high. Canada’s largest producer of base metals, Teck Resources, was also reported in October as considering abandoning its bid because of a wide valuation gap. About a quarter of Iron Ore Co.’s output is supplied to steel mills in the Asia-Pacific region and the Middle East.