Xstrata

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Glencore’s Charge on Xstrata Mining Assets

Glencore’s Charge on Xstrata Mining Assets

The latest reports are confirming that Glencore has taken up a $7.7 Billion charge on Xstrata Mining Assets.

The latest reports coming from the market say that the first half profit of Glencore Xstrata Plc (GLEN) has slid by approx 39 percent. Moreover, sources are also revealing about some other news which they say is coming regarding its three months old takeover.

China Reviews Glencore-Xstrata Merger’s Influence on Chinese Copper Market

China Reviews Glencore-Xstrata Merger’s Influence on Chinese Copper Market

With a proposal of merging of the world's largest supplier of the public-traded commodities, Glen Core International PLC (GLEN), with Xstrata PLC, China is reviewing the effect the alliance will put on Chinese copper market. The statement regarding the same was given by the GLEN on Tuesday.

Glencore Increases Takeover Bid

Glencore Increases Takeover Bid

This Friday was a disappointing day for Swiss mining group Xstrata, since Glencore rejected its proposal for a takeover bid signaling that it was a very low amount, as per a recent report.

Chairman of Vodafone to Head Xstrata

Chairman of Vodafone to Head Xstrata

Willy Strothotte, who is the Chairman of Xstrata since 1994 will retire on May 4, at the conclusion of Xstrata's Annual General Meeting on May 4. Mr. Strothotte will be replaced by the Chairman of Vodafone, Sir John Bond. Vodafone is the world’s second-largest mobile phone operator by market capitalization.

Commodity Boom helped Xstrata to see soaring profits

Xstrata

The commodity bang had sent profits rising at mining powerhouse Xstrata as speculation increased over the future of its biggest shareholder Glencore.

The Anglo-Swiss company stated that it has seen an eighty six per cent jump in profits for 2010 to $5.15billion (£3.2billion) after a thirty four per cent rise in revenues to thirty and a half billion dollars.

Coal production of XStrata dips six percent in 2010

Coal production of XStrata dips six percent in 2010

Xstrata (XTA. L), the miner stated that coal production declined by six percent in 2010 with thermal coal output impacted by severe weather in the first quarter and in the month of December.

Total combined coal production declined to 79.9 million tons although the Anglo-Swiss miner came up with annual production records for coking coal and semi-soft coking coal.

"Substantial" Macarthur Coal Shareholder Approached by Xstrata

"Substantial" Macarthur Coal Shareholder Approached by Xstrata

Reports have revealed that Xstrata Plc., which is regarded the biggest exporter of power station coal, has approached a "substantial" Macarthur Coal shareholder, a move which has placed Xstrata next to Peabody Energy Corp. and two other competitor in a race to take over the $4 Billion firm.

Government Turns Down Xstrata's Prosecution

Government Turns Down Xstrata's Prosecution

Scrutinizing the case of Xstrata's violation of the limits in the emission of lead, the Government has now announced that it will not prosecute the group anymore.

Environment Minister Kate Jones has clarified that the laboratory hired by Xstrata had wrongly interpreted the figures.

Despite fall in Profits Xstrata Stays Confident

Xstrata-Logo

Although Xstrata's second-half profits collapsed by 97% due to the fall in the prices on coal, copper and other metals, yet it has remained quiet confidence about the future as it looks forward to restore dividend payments.

Xstrata eyeing Lonmin; plans to offer £3 billion for takeover!

Xstrata

With its proposed "merger of equals" with Anglo American showing signs of fizzling out, the Switzerland-based mining giant Xstrata intends launching a fresh bid for the world's third-ranking platinum producer, the South Africa-based Lonmin, which was earlier called Lonrho.

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