Glencore Xstrata reportedly interested in Rio Tinto’s Canadian iron ore operations

International commodities producer and trader Glencore Xstrata and US-based private equity firm Blackstone Group LP are interested in the global miner Rio Tinto's majority share in Canada's largest iron ore producer Iron Ore Company of Canada, according to media reports. Rio Tinto's 59 percent stake in the Canadian company is estimated to be worth $4 billion.
 
Media reports also suggest that out of 13 to 15 initial bidders for the Canadian iron ore operations, Rio Tinto has drawn up a shortlist including five to six companies.