Copper – Mining Weekly reported that Xstrata CEO Mick Davis is stepping aside to fulfil one of the conditions required for the Glencore takeover, as laid out by the Chinese Ministry of Commerce (Mofcom).
Articles Tagged "glencore"
Zinc – Bloomberg reported that Glencore had to end its agreement with Nyrstar, the world’s biggest zinc producer, due to competition concerns after buying miner Xtrata.
Copper – Reuters reported that Glencore has cleared the final hurdle that stood in their way of their takeover of Xstrata after they agreed to sell a $5.2 copper mine to ease their monopoly on the sector.
Copper – Reuters reported that Glencore is widely expected to agree to Chinese concessions in order to complete the Xstrata takeover.
Cobalt – The Street reported that Zambia could potentially become one of the biggest producers of cobalt globally with a $27 million investment from Glencore its Nkana cobalt plant, where production is anticipated to increase to rise 7,000 metric tons a year.
Copper – Bloomberg reported that Glencore's proposed takeover of Xstrata is coming up against delays from China's competition regulator, but that talks are expected to resume soon.
Nickel – Reuters reported that in spite the growing mountain of nickel, big financial firms have other plans for the metal making it less and less available.
Copper – Bloomberg reported that Glencore's 2012 copper output rose 3.9 percent to 376,700 tons.
Coal – Bloomberg reported that Glencore's 2012 coal production more than doubled after buying mine operations in South Africa. As quoted in the market report:
Nickel – Bloomberg reported that the world’s biggest steel and mining companies such as Anglo American, Vale SA, and Rio Tinto have wiped about $50 billion off their property valuations in 2012 and other companies have followed suit, including Glencore International Plc and BHP Billiton, which may write down some of their nickel assets.