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The largest non-ferrous metals trader received a new credit line

According to the press center of the largest operator of the global market of non-ferrous metal, the corporation «Glencore Xstrata», the company's management has concluded agreements with a number of European banks to provide revolving credit lines totaling more than $ 17 billion. US dollars. These agreements should ensure that the organization of cash injections in exchange loans obtained «Glencore» and «Xstrata» apart (before the merger).

The foreign media reported that nearly 6 billion. Dollars will be obtained by the corporation «Glencore Xstrata» in the form of short-term loans (up to one year) with a probability of renewal for a similar period. The remaining amount will be divided into two long-term credit — about $ 7 billion over three years and 4.35 billion dollars for five years… Among the creditors of the corporation referred to such financial giants as «Commerzbank», «National Treasury Services», «Barclays», «Royal Bank of Scotland» and «Societe Generale».

«Glencore International AG» (Switzerland) — a large European trading company, one of the leading sellers in the commodities market and the rare earth metals market. As a representative of the mining companies across the globe, «G I» sells crude oil and products of its processing, coal, iron ore, non-ferrous metals and a variety of other products to its clients in many heavy industries. Russia also has the assets of the corporation — it has a significant stake in the company «Russian Aluminum» and the proportion of assets of the company «Russneft». Globally, among other assets «Glencore International» it should be noted, first of all, the development of zinc in Kazakhstan and Peru, coal mines in South Africa and copper mine in the Philippines. In addition, an important place in the metal business of the company occupy the direction of ferroalloys, nickel, lead.

Earlier it was reported: in the first quarter of 2007 aluminum assets constituting 12% of the total capital of «Glencore International», have been consolidated with the assets of Russian aluminum giants «Russian Aluminum» and «Sual Group». The result was the creation of «Russian Aluminum» profile large organization («United Company Rusal»), which is by far the world's leading producer of alumina and aluminum.

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