The newly combined company’s stock price rose over 4%
New deadline for completion is May 2.
The number of global deals has fallen to its lowest level since 2005.
The results add to the recent list of a dreadful reporting season from major miners, such as Rio Tinto and Anglo American.
Mergers and acquisitions in the sector fell 30% last year and will continue to be low in 2013.
The world’s largest commodities trader said more details about the pending deal will be revealed on Tuesday. Meanwhile, it faces claims of supplying Iran with key ingredients for the manufacture of tubes used in uranium enrichment centrifuges.
The move would drop the number of FTSE 100 with all-male boards to five.
The miners joint production numbers released by Glencore revealed a decline in output across key metals such as coal and copper.
A social media user who claims being a commodities trader at giant Glencore (LON:GLEN) opened up a forum on Reddit on Sunday in which he answered lots of questions about what it's like to work at the big firm.
Eskom's announcement removes one of the last few hurdles in the two companies' quest to create the world's fourth-biggest diversified miner.
Under the terms of the sales agreement, Glencore will purchase 250 wet metric tonnes (WMT) per month of copper concentrate product.
Glencore has extended the deadline to complete takeover of Xstrata (LON:XTA) by a month after South African power utility Eskom expressed worries about its coal supplies.
"I have not yet decided what my future plans will be but certainly retirement will not be part of them."
In what shouldn’t come as a surprise for those following the recent events related to the touted and long delayed $66 billion merger between diversified miner Xstrata (LON:XTA) and commodity trader giant Glencore International (LON:GLEN), the Swiss company's shareholders have approved the deal.
BHP Billiton's (NYSE:BHP), the world's largest mining company, has not been successful in its quest to find a suitable successor to Marius Kloppers, as the South African approaches his sixth year as chief.
Glencore’s rivals are salivating at the prospect of the deal coming up for grabs.
The European Commission said Wednesday it is delaying the deadline to emit a verdict on Glencore International PLC's $70 billion merger proposal with Xstrata (LON:XTA) after Glencore (LON:GLENA) made concessions to reduce EU concerns about too much potential concentration of interests in northern Europe.
Qatar's sovereign investment fund, the second largest shareholder in Xstrata PLC (LON:XTA) with 12% of equity, confirmed Monday it is looking positively at the company's planned merger with Glencore International (LON:GLEN).
Diversified miner Xstrata (LON:XTA) and commodities trader Glencore International (LON:GLEN) have now until October 1 to decided on the $36 billion lauded merger.
Glasenberg’s determination to continue with the offer as originally planned comes amid growing signs that Xstrata is more confident of its position on a stand-alone basis.
Shares of iron miner Bellzone were on the rise this morning after the company agreed to sell all of its share of output from the Forecariah mine in Guinea to commodities trading giant Glencore.
Xstrata has approved a $360 million expansion for its McArthur River mine in Australia’s Northern Territory which will make the project the largest producer of zinc in the world.
Following a series of recent protests and other problems affecting mining companies with operations in Colombia, coal workers for the local unit of Glencore International went on strike late Thursday, causing the immediate halt of the company's operations in the country.
Vale, the world's second-largest mining company, sold its ferromanganese plants in Europe to Glencore International for $160 million, as it seeks to help finance core investments in iron ore, coal and nickel.
Giant miner Xstrata has set Sep. 7 as the day for its shareholders to vote on the $26 billion takeover by Glencore, giving the commodities trader six weeks to reach an agreement on the conditions.
Xstrata has delayed voting on a merger with Glencore as investors continue to dictate the offer and unions become more vocal about their concerns over the deal.
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