Glencore May Expand to Rival BHP, Rio, Investor Rothschild Says

Glencore International AG, the commodity trader that’s considering an initial public offering, may grow to rival the world’s largest mining companies, according to investor Nathaniel Rothschild.

The Baar, Switzerland-based company is at a “crossroads” in its development, said Rothschild, who bought $40 million of Glencore bonds convertible into shares upon an IPO. Glencore said last month it sold as much as $2.2 billion of the bonds.

...

Commodities are still a “huge area” of interest for Rothschild, he said. He’s buying $100 million of stock in United Co. Rusal, the Russian aluminum producer controlled by Oleg Deripaska, which is planning an IPO this month.