Saudi’s Manara Sounds Out Firms Over Push Into Metals Trading

Saudi Arabia’s state-controlled metals and mining vehicle is in talks with some of the world’s biggest commodity houses over a push into trading, as the kingdom expands its presence in global supply chains.

Manara Minerals Investment Co., a venture between the kingdom’s sovereign wealth fund and state mining company, has held discussions with traders including Glencore Plc and Mercuria Energy Group Ltd. about forming a partnership, according to people familiar with the matter who asked not to be identified as the talks are private.