Glencore Mining News

EU delays Glencore-Xstrata merger verdict

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.

Xstrata, Glencore shareholders to vote on merger on November 20

On November 20, 2012 Glencore and Xstrata shareholders will attend a meeting, where they will vote on the merger of both companies. The transaction is valued at USD 37 billion.

Qatar sees Glencore/Xstrata merger positively

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).

Xstrata gets an extra week to decide on Glencore merger

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 won't budge on Xstrata

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.

Glencore gets a bigger piece of the iron ore pie with Bellzone's output offtake

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 to create world's biggest zinc mine

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.

Colombian coal miners’ strike risks Glencore operation

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 sells ferromanganese units to Glencore for $160 mln

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.

Xstrata-Glencore merger to be decided Sep 7

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-Glencore merger vote postponed: unions raise concerns

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.

Australia won't get in the way of Glencore-Xstrata

Australia's antitrust regulator has decided it would not oppose commodities trader Glencore's $26 billion takeover of miner Xstrata.

Copper market squeeze: It's back!

On top of increased demand from China, the re-emergence of a trader controlling more than half of London Metal Exchange copper stocks and cash contracts could squeeze the market just as it did in April.

The incredible shrinking merger: Glenstrata already worth $35 billion less

Knight Vinke is looking for a ratio of 3.25:1 similar to the demands of Qatar which last week pushed the $60 billion deal to the verge of collapse.

Glencore 'ready to pull' Xstrata merger

While both Davis and Glencore CEO Ivan Glasenberg would suffer blows to their reputations as dealmakers if the merger should collapse other parties stand to lose more.

Glencore ponders changes to Xstrata deal as major shareholder demands better terms

Commodities trader Glencore International is studying modifications to its $26 billion bid for miner Xstrata after Qatar's sovereign wealth fund, a key shareholder, unexpectedly opposed the deal's terms.

Glencore-Xstrata deal 'on the verge of collapse' after Qatar withdraws support

Qatar's about-turn means that more than 25% of shareholders eligible to vote at the 12 July meeting are now against the deal’s current terms.

Glencore, Lexshell consortium owns 71% of Optimum Coal

A consortium comprising commodities trader Glencore and South African businessperson Cyril Ramaphosa’s Lexshell 849 has increased its shareholding in black economic-empowered Optimum Coal to just over 70%.

Bolivia won’t pay Glencore for taking its mine

Bolivia’s leftist government announced it won’t pay any financial compensation to Swiss miner Glencore after yesterday’s decision to take over its Colquiri tin and zinc mine.

Xstrata to pay $342 million to execs after Glencore merger triggers 'red-top alert'

The unusual alert, considered the Association of British Insurer's most serious warning, indicates a breach in corporate governance.

Glenstrata ready to become the largest mining industry merger in recent history

The prospectus giving details of the creation of a $90 billion mining and commodities trading behemoth will finally find its way to the inboxes of shareholders today.

Viterra shareholders back Glencore takeover bid

The largest agricultural sector deal in years has taken one step closer to completion, as shareholders of Canadian grain handler Viterra Inc have voted strongly in favour of a friendly takeover offer by Swiss commodities trader Glencore International Plc.

Glenstrata takes shape this week

The prospectus giving details of the creation of a $90 billion mining and commodities trading behemoth will find its way to the inboxes of shareholders this week.

Glencore stockpiles zinc, tightens grip on global market

Commodity trader Glencore is tightening its grip on the global zinc market by moving material to inaccessible locations, forcing industrial users to pay high physical premiums for a metal that is in surplus.

Doctor Glencore predicts 'healthy' demand for raw materials

Swiss commodities trader Glencore International PLC (LON:GLEN) painted a rosy outlook for the worldwide demand for raw materials this year, as China and the U.S. help offset the impact of the slump in Europe.