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...

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...

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...

First Nickel to address deficiencies at Lockerby

TSX-listed First Nickel on Tuesday said it intended to address deficiencies at its Lockerby mine, in Sudbury, within days, after the Ministry of Labour issued a stop-work order on Monday afternoon following an inspection. The miner said...

Glencore acquires controlling stake in Optimum Coal

Commodities trader Glencore International said on Tuesday it had acquired a further 36.56% interest in the Optimum Coal, following unconditional approval by the South African competition authorities. The consortium now holds directly and...

Xstrata buys Talisman coal deposit for $500m

The coal division of Swiss listed diversified miner Xstrata has agreed to acquire Canadian oil and gas company Talisman Energy’s Sukunka hard coking coal deposit , in British Columbia, for $500-million in cash. Sukunka, which is contiguous to...

Glencore commodity trading earnings slump in 2011

Glencore lost money on agricultural commodities in 2011 by trading volatile cotton markets and saw the profitability of trading metals and oil remaining weak or declining, the commodities giant said on Tuesday. Glencore, which rivals Vitol for...

ARM to bring four new mines into production by 2014

Diversified miner African Rainbow Minerals (ARM) will bring four new mines into production by 2014, as it continues its strong growth trajectory. “We said in 2005 that we are going to double by 2010. We’ve achieved that. We’re growing...

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...

Merafe 2011 production down 12%

JSE-listed Merafe Resources on Tuesday reported lower 2011 ferrochrome output, as scheduled maintenance, weaker market conditions and industrial action impacted on production. Ferrochrome output dropped 12% to 263 000 t in the year ended December...

Xstrata starts underground copper mining at Ernest Henry

Swiss-listed diversified miner Xstrata has started production at its new Ernest Henry underground copper mine, in Queensland, marking the transition from an openpit operation. Xstrata is investing $589-million to extend the life of its Ernest...

Xstrata announces resource increase at PNG copper/gold project

The copper division of Swiss-listed diversified miner Xstrata on Friday announced a 10% copper resource increase at its Frieda River copper/gold project, in Papua New Guinea. The miner said in a statement that the new resource estimate for the...