Glencore Xstrata Mining News

Glencore’s Glasenberg slams top iron ore producers once again

In his first investor day since buying Xstrata last year, Glencore’s boss highlighted his company’s spread of commodities and took aim at the expansion strategies of Rio Tinto and BHP Billiton.

New low in oil prices drags BHP Billiton stock below 2009 levels

The stock closed in Sydney below the $30 mark, which is the lowest it has traded in the last five years.

BHP closer to unveiling details of upcoming spin-off

The world’s largest miner is only two weeks away from shedding more light on an upcoming spin-off of unwanted assets.

BHP bows to pressure, to list spinoff in London

The mining giant has made a sharp U-turn on its initial decision to snub a London listing for its $17 billion spinoff.

Queensland wants coal waste to be dumped onshore, not near reef

The state government submitted an application to the federal government for 3mn m³ of dredging material to be disposed on land.

BHP to go ahead with London-listing of demerged $15bn firm

New company would still have its primary listing in Australia, with secondary listings in South Africa and the UK.

New $15bn coal mine in Australia to hire over 5,000 workers

And that's only during the construction phase.

Australia’s newest and biggest coal mine gets federal approval

The controversial US$15bn Carmichael Coal Mine and Rail Project is being developed by Indian conglomerate Adani Group.

Slow growth spoiling China’s appetite for coal

In the first half of 2014, the country’s coal imports grew just 0.9%, compared with 13.3% a year earlier.

BHP sell-off could undo Billiton historic deal

As BHP considers the sale of almost all of the businesses that Billiton brought to the 2001 merger deal, experts say the firm is likely to end up leaving London.

Glencore smashes claims it paid zero tax in Australia over last three years

In an email to staff the company's coal chief executive, Peter Freyberg, revealed details of tax payments.

Glencore appoints Canadian as its first ever female director

Patrice Merrin, 65, is a veteran to the industry.

Australia’s mining jobs running dry as sector growth slow

The country's mining industry has lost 6,600 workers in the three months to May.

BHP Billiton a step closer to selling-off non-core operations

World's largest mining company said to be unloading all of the non-core units acquired after the merger with Billiton 13 years ago.

Miners profits sank 72% over past year, lowest level in a decade

Global net profits have dropped to $20 billion in the last year, with gold, coal and diversified miners being the worst affected.

Major new coal projects unlikely to be profitable: Goldman Sachs

The bank analysts say the window for profitable investment in new thermal coal mining and infrastructure capacity “has closed.”

Deutsche Bank won’t fund Barrier Reef port expansion

The bank says it won't finance a project whose effects are still being debated.

Glencore’s CEO Glasenberg blames big miners for iron ore collapse

He said rivals BHP Billiton, Rio Tinto, and Vale has put too much pressure on prices through their aggressive brownfields expansions.

Vale fires 500 coal miners in Australia, shuts down operations

Vale says mines are not economically feasible under current market conditions.

Australian government eliminates mining tax

The announcement was part of the Federal Budget unveiled Tuesday night, considered the toughest in almost two decades.

Australia gives green light to new $15bn coal mine despite Barrier Reef qualms

Adani Group's mine, designed to eventually produce 60 million tonnes of thermal coal a year, has been the focus of ongoing opposition.

Former BP boss is Glencore Xstrata’s new chairman

Tony Hayward was ousted from the oil giant in 2010 following the Gulf of Mexico disaster — the vastest marine oil spill in history.

South American, African mines lift Glencore Xstrata copper output

Copper has gained an increasingly important role in Glencore Xstrata's portfolio since last year’s mega merger.

UNESCO to place Great Barrier in high risk list unless Australia steps up protection efforts

The UN body is especially worried about Australia's decision to allow dredging and dumping of 3 million tonnes of dredge spoil in reef waters, as part of a coal port expansion.