Glencore hopes for FTSE fillip to aid Xstrata deal

Glencore's bruised stock could get a boost after a lock-up on a large slice of employees' shares expires, in a welcome lift for the commodities trader as its $30-billion bid for miner Xstrata nears the final stages. The release on Thursday of...

Anglo's struggle over platinum showcases sector woes

Miner Anglo American has made a priority of its struggling platinum business, admitting earlier this year that the world's largest primary producer is underperforming in the face of soaring costs, imposed safety stoppages and weak demand. But...

Qatar adds to Xstrata stake - Financial Times

Qatar's sovereign wealth fund plans to increase its stake in Xstrata Plc to at least 10%, the Financial Times said on Thursday. Qatar is expected to continue building its stake, currently at 8.5%, to 10% and could go higher, people familiar with...

Glencore under fire over Congo as investors meet

Commodities trader Glencore faced calls for greater transparency around its deals in Congo, one of its most promising but most controversial jurisdictions, as it prepares for its first shareholder meeting since listing. Anti-corruption campaign...

Miners will battle resource grabs - Glencore

Mining companies will fight growing resource nationalism and could pull out of countries where governments are demanding too large a share of the pie, commodities giant Glencore warned on Friday, a day after Argentina nationalised the country's...

Xstrata woos waverers over Glencore deal

Miner Xstrata sought to win over waverers to the merits of its $39-billion takeover by commodities trader Glencore, telling shareholders to back the "fair and reasonable" offer even as investors flexed their muscles by expressing opposition to its...

Xstrata Q1 copper production down

Miner Xstrata, which is moving into the final stages of a record tie-up with commodities trader Glencore, posted a drop in first-quarter copper production as it prepares for the ramp up of key projects in the second half of the year. Xstrata,...

Mongolian coal group Tavan Tolgoi eyes 2013 market debut

Mongolian miner Erdenes Tavan Tolgoi, which owns one of the world's largest coking coal deposits, has pushed back plans for an international stock market debut to early 2013, disappointing hopes it would boost London's fortunes this year. The...

Analysts say zinc-miner Trevali in Glencore's sights

Giant trading and mining company Glencore has struck a deal to buy a 7.8% stake in Canada’s Trevali, which owns a zinc mine in New Brunswick, for $18-million, sparking speculation that it might be eyeing the entire company. Bigger companies...

Merged Glencore, Xstrata would take aim at iron ore

An $80-billion marriage of commodities trader Glencore and miner Xstrata could lead to a new round of takeovers in iron ore, creating a goliath eager to muscle its way onto one of mining's richest and most closely guarded industries. Glencore and...

Global miners tipped to hoard cash for deals, projects

Top global mining companies are set to report large, but modestly weaker, half-year profits and indicate they are keeping their billions in cash to chase deals and develop massive projects instead of handing it to shareholders. The July-December...

Xstrata confirms Glencore approach

Diversified miner Xstrata on Thursday confirmed that it was in discussions with commodities trader Glencore about a possible merger. Glencore, which already owns 34% of Xstrata, is required under UK takeover rules to announce by no later than...