Rothschild's fund bids for Colombian mining assets

Vallar, the investment vehicle run by Nathaniel Rothschild, submitted a bid for the Colombian assets of US coal group Drummond last week.

At least three other parties are believed to have bid for the operations, which could be worth as much as $7bn. There is speculation that Swiss commodities trader Glencore, FTSE-100 stalwart BHP Billiton and Brazilian giant Vale are also in the running. Vale is also looking at fertilizer maker Coprebras, which Anglo America is selling as part of a restructuring.