Glencore/Xstrata make iron ore a priority Glencore and Xstrata, set to create a $90 billion mining powerhouse, have put iron ore at the top of their post-merger to-do list, building up the one key commodity where they are all but absent. Yet industry sources caution that without a major deal, any hopes the two will swiftly repeat their coal success in iron ore — a lucrative markets which is mostly concentrated in a few companies’ hands — may be disappointed.