Reasons why mining companies may become the next target of Mr. Musk
Elon Musk is extremely busy. Despite his recent acquisition of Twitter, his automobile company Tesla (TSLA) $Tesla (TSLA.US)$ is reportedly considering acquiring a significant stake in one of the world's leading mining giants.
Financial Times reported that last year, Tesla initiated preliminary discussions to acquire 10% to 20% of the shares of Swiss commodity company Glencore (GLNCY). The negotiations continued until March of this year. However, no deal was reached. The main obstacle seemed to be whether Glencore's extensive (and highly profitable) coal mining operations align with Tesla's environmental objectives.
Below are the reasons why I believe Mr. Mask may continue this trade.
Reasons why Tesla wants to acquire Glencore's shares
The reason behind the discussion is clear. Tesla, like all other auto manufacturers...