CVG Bauxilum has signed a deal for future supplies worth $120 million with Glencore International, Bloomberg reports, citing Correo del Caroni. The Venezuelan state-run alumina and bauxite producer has also got approval from its board for the same. As a part of the contract, Bauxilum will supply 1.4 million tons of alumina to the commodities trader between 2014 and 2018. Bauxilum and Glencore have previously signed three future supply contracts.
Click here for the story from Bloomberg.