RE:Glencore could easily take out MMS .Yes, they could. But what would be the point? Glencore is good in operating mine, or rather letting mines be operated. They do not develop mines. So if they buy MMS they would have the hassle of finding people to developmthe mine and after that operate it. That is NOT their business.
But if Glencore is really in such dire need for iron ore as thid deal suggest I assume they will take a significant stake in the company, and thus help financing. So far the news released seems incomplete as both MMS and GLEN have not released it on their respective web sites. So I think there is more to follow, i.e., there is more to thid deal then just the off-take IMHO.