Commodity trading powerhouse Trafigura has been identified as the client behind Mineral Resources' (OTC:MALRF) $400 million prepayment deal for iron ore. The Australian miner has previously reported the deal in July without disclosing the client's identity.
"Due to confidentiality restrictions, we cannot disclose the terms or the customer that the transaction was undertaken with," a spokesperson for Mineral Resources said, per Bloomberg's report.
Yet, according to people familiar with the matter, that client is Trafigura- one of the world's largest commodity traders, which has been aggressively expanding its activities.
Over the past decade, Trafigura's iron ore volumes have surged more than fivefold, reaching 31 million tons by 2022, boosted by higher volumes at its ...
