UPDATE 1-Noble wins Nyrstar zinc marketing deal - sources
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SINGAPORE/LONDON, Sept 13 (Reuters) - Trade house Noble has won the right to sell zinc output from Nyrstar, the world's biggest producer, taking over from Glencore Xtrata a deal worth up to $650 million a year, sources familiar with the situation said on Friday.
"Noble have won the Nyrstar zinc metal marketing business- the one which Glencore have to exit," one source said.
Belgium's Nyrstar declined to comment on the matter.
Noble was not immediately available for comment.
Around 12 companies including trading houses Trafigura and Louis Dreyfus were in the race to win the right to sell up to 350,000 tonnes of Nyrstar's zinc.
The opportunity had become available because commodity firm Glencore agreed to scrap the deal, which it had signed in 2008, in order to get European Union regulatory approval for its takeover of Xstrata.
Glencore Xstrata will continue to market Nyrstar's commodity grade zinc produced outside of Europe when the deal ends in January.
Nyrstar is also building its marketing and trading team with a view to sell, buy and trade more of its zinc concentrate itself.
(Additional reporting by Silvia Antonioli in London; Editing by Veronica Brown and William Hardy)