Glencore takes control of Mutanda with $480m deal

Commodities trader Glencore has taken majority control of its fast-growing Mutanda copper operation in Congo with deals worth $480-million, marking the first step in a planned merger of the mine with its nearby Kansuki concession. Mutanda, in...

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...

Glencore tightens grip on global zinc market

Commodity trader Glencore is tightening its grip on the global zinc market by moving material to inaccessible locations, forcing industrial users to pay high physical premiums for a metal that is in surplus. The matter is under scrutiny because...

Glencore unit’s Q1 suffers from $14.5m DRC tax penalty

Katanga Mining, the Congo copper producer Glencore owns, said on Friday first-quarter net profit shrunk to $5-million, about one-eighth of the figure it reported for the same period one-year ago. The TSX-listed company said a $14.5-million...

Glencore sees healthy global demand for commodities

Glencore reported "robust" trading in the first quarter, reassuring investors with its view of broadly healthy demand for the commodities it mines, farms and drills, in a week when renewed fears over Europe's debt crisis dominate markets. The...

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...

Appetite for mining deals remains strong despite Q1 decline

While the volume and value of mining merger and acquisition (M&A) transactions declined in the first quarter, advisory firm Ernst & Young (E&Y) said on Tuesday that the appetite for deals remained substantial. The volume of M&A transactions fell...

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...