China has cleared Glencore's $64bn merger with Xstrata after the trading house agreed to sell a mining project to put an end to 15 months of haggling over one of the largest deals to date in the natural resources industry.
Glencore may invest in copper projects in the Democratic Republic of Congo and Zambia or seek acquisitions, Paul Gait, an analyst at Sanford C. Bernstein Ltd. in London, said in an e-mail. “The main story will be, I guess, what next for the deal flow ...
Mick Davis, the former head of Xstrata, attempted a dramatic comeback earlier this year, approaching BHP Billiton with an offer to buy a bundle of mines from the world's largest natural resources group, said people familiar with the matter.
Glencore Xstrata plans to drop the 'Xstrata' from its corporate name - in a move that will erase the final remnants of a company that had been one of the world's five top miners before its acquisition by the Swiss-based commodities house.
MMG and its partners Guoxin International Investment Corp Ltd and state-owned CITIC Metal Co Ltd agreed in April to pay $5.85 billion, plus the money spent by Glencore since the beginning of 2014 on building the mine. Glencore had to sell the Las ...
Glencore has put its Chilean hydropower joint venture up for sale, according to a person familiar with the business, as the mining and commodities house moves to sell another asset to lighten its debt load.
The seasoned trader and competitive speed walker on Wednesday blamed “short-term” hedge funds which did not “understand” his business for attacking Glencore's share price, and said it was speculators who were pushing commodity prices lower.