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Glencore Said to Be Favored by Exxaro in Zinc Mine Talks

Glencore International Plc, the largest publicly traded commodities company, is emerging as the preferred bidder for the 50.04 percent stake in Namibia’s Rosh Pinah Zinc mine held by Exxaro Resources Ltd.’s, a person familiar with the negotiations said.

The offer by Baar, Switzerland-based Glencore is favored over one from London-based Vedanta Resources Plc, the person said, declining to be identified because the talks haven’t been made public. Exxaro spokesman Hilton Atkinson said in an e-mail today that the company “is in discussions with preferred bidders.” Exxaro reported in July that Vedanta had held discussions about the mine.