Prodeco
From Taighde
Prodeco is coal operations in Colombia currently owned by Xstrata. The company has two mines, port facilities and stake in a Colombian railroad. Glencore held the mine until selling it to Xstrata for cash. Glencore has the option to repurchase Prodeco. Glencore must do this before March 4, 2010.
Glencore is looking for a partner to help buy back the company. According to a press account, the Government of Singapore Investment Corporation is one of the possible partners.[1] The others are Vale, Alpha Natural Resources, and First Reserve Corp. Glencore is expected to pay $2.25 billion to retake the mines. Glencore is expected to reimburse Xstrata for any capital that they spent on the mines.
