Reasons why mining companies may become the next target of Mr. Musk
Elon Musk is extremely busy. Despite having just acquired Twitter, his automobile company Tesla (TSLA) $Tesla (TSLA.US)$ is reportedly looking to acquire a significant stake in one of the world's leading mining giants.
The Financial Times reported that last year, Tesla initiated preliminary discussions about acquiring 10% to 20% of the shares of the Swiss commodity company Glencore (GLNCY). The negotiations continued until March of this year. However, the discussions did not result in a deal. The main hurdle appeared to be whether Glencore's extensive (and highly profitable) coal mining operations align with Tesla's environmental goals.
Here are the reasons why I think Mr. Musk may continue this trade.
Reasons why Tesla may want to acquire Glencore's shares
The reasons behind the discussion are clear. Tesla, like all other auto manufacturers...