Xstrata PLC

Xstrata relies on China to lift copper demand

Copper demand in China, the world's main consumer of the red metal, is expected to rebound in the second half of 2012, despite the uncertain outlook for Europe, the head of Xstrata PLC's copper division said.

Latin American mining investment boom continues unabated

Over the past decade, mining investment in Latin America has more than doubled, even after experiencing a sharp drop in 2009. According to a report by the Metals Economic Group, Latin America is now the primary destination for mining exploration investment in the world, with 25% of total investment going to Chile, Peru, Brazil, Colombia, Mexico and Argentina.

Xstrata copper production down, but Q1 financial performance solid

Anglo-Swiss Xstrata Plc. (LON:XTA) reported today mixed production results for its first quarter, with copper production declining 18%, but said operating and financial performance remains strong.

Anglo American and Xstrata among four companies accused of environmental violations in Australia

Anglo American (LON:AAL) and Xstrata (LON:XTA) coal mines are among the four operations being investigated over probable environmental violations, after they were accused of discharging contaminated water into the Fitzroy River, located in the North East state of Queensland, Australia.

Glencore-Xstrata merger won't happen this year

EU regulators are stepping up scrutiny of the mooted $90 billion merger of the commodities trader and coal giant and the whole vetting process could take until early 2013. That is if the deal goes ahead at all.

Investors give miners another kicking after China manufacturing shrinks

None of mining's top companies escaped the carnage on Thursday after a survey of manufacturing in China showed activity slowed for a fifth straight month.

Australia’s controversial coal and iron mining tax passes the Senate

The Australian Senate approved today a mining legislation that imposes a 30% tax on coal and iron ore miners, allowing the government to take a larger part of profits from a mining boom pushed by Chinese and Indian demand for raw materials.

Japan buys US$435m Xstrata’s stake in Canadian coal operations

Japanese JX Nippon Oil & Energy acquired a 25% of diversified miner Xstrata Coal operations in Western Canada for US$435 million, creating a joint venture that will build the business and market coal in Japan.

Xstrata and Glencore to close $90bn merger

After months of speculations and secret negotiations, Xstrata PLC (LON:XTA) and Glencore International PLC (LON:GLEN) have formally announced an all-share merger that would create a $90bn giant named "Glencore Xstrata International PLC."

Xstrata and Glencore went from dating to a (more) serious relationship

The long-term fling between mining group Xstrata PLC (LON:XTA) and commodities trader Glencore International PLC (LON:GLEN) is getting serious. In a statement in response to increasing speculation about an upcoming merger, Xstrata confirmed today that it is in negotiations with Glencore.

In a month of copper strikes, world number 3 Collahuasi's must count as shortest

Reuters reports unionised Chilean workers at Collahuasi, the world's third most productive copper mine, halted production on Saturday in a strike demanding a wage bonus, but were back at work on Sunday after after reaching an agreement with management, the company and union said.

Collahuasi is owned by Switzerland's Xstrata and the Britain-based Anglo American. Collahuasi produced 504,000 tonnes of copper in 2010, when output was hit by a month-long strike. The mine expects to produce 500,000 tonnes of copper this year. It supplies roughly 3% of the world's copper, half that of Chile's other giant copper mine Escondida.

Strikes hit BHP, Anglo, De Beers and Xstrata across three continents

Bloomberg reports BHP workers in Chile voted Sunday to extend their strike at the world’s largest copper mine. Stoppages at BHP’s Australian coal operations may resume this week. Thirty thousand South African coal mine workers including Anglo American and Xstrata employees walked off the job Sunday and may be joined by 160,000 gold industry workers. Strikes that started over the weekend are impacting output from mines of diamond giant De Beers.

Workers are seeking a larger slice as global producers report record earnings: Melbourne-based BHP, the world’s biggest mining company, is expected to report full-year profits of $22.5 billion next month, almost double 2010’s net income. Xstrata may report record 2011 profit of $7.3 billion and Anglo American $7.4 billion, estimates show.

Xstrata says copper output picked up in Q2, committed to Peru

World No. 4 copper miner Xstrata said Friday it was confident it would hit its 2011 copper output target, after production improved in the second quarter following heavy rains in the first quarter.

CEO Charlie Sartain said the miner would continue to invest in Peru, where some fear leftist President-elect Ollanta Humala's policies could hurt investment in the sector.

Glencore said to be mulling $20 billion ENRC takeover

According to a detailed report in the U.K.'s Sunday times newspaper, Global mega commodities group, Glencore, which recently listed in the London stock Exchange's largest ever IPO, is considering a what appears to be a £12 billion (US$20 billion) friendly takeover of European-based diversified mining and metals company, ENRC (Eurasian Natural Resources Corporation). If such a move takes place this would convert Glencore from the world's largest commodities trading group into one of the globe's biggest integrated mining and metals companies – even without taking into account its 35% stake in Xstrata.

Xstrata Nickel shares $15.2 million of Raglan's operating profit with Inuit communities

Xstrata Nickel Raglan Mine today presented a cheque in the amount of Cdn$15.2 million to the Makivik Corporation and the Inuit communities of Kangiqsujuaq and Salluit. This sum represents the Inuit communities' share of the profits generated in 2010 by the Raglan nickel mine operation, located in Nunavik, Northern Québec.

To date, more than Cdn$100 million in profit-sharing payments have been directed to an Inuit trust fund for economic and community development through the Raglan Agreement.

Transforming magnetite circuits with the IsaMillTM

IsaMillsTM have been established for over 15 years in base metal grinding circuits, transforming the operations with their energy efficient grinding action. The technology is now being adopted by the iron ore industry, with the first IsaMillTM being planned for commissioning in early 2011 at Xstrata Copper's Ernest Henry Mine's magnetite project in Queensland. Read more

Alice Springs traditional owners acquire 51% of Australian Contract Miner of the Year

The Alice Springs-based Lhere Artepe Group has acquired 51% of the CDE Group, taking indigenous ownership of the Australian mining and civil works contracting group to 84%. CDE’s current activities include providing services to Fortescue Metals Group’s Christmas Creek iron ore mine in Western Australia through the Downer EDI contracting group, and to Xstrata for the McArthur River zinc mine in the Northern Territory.

6 bidders left in tussle for Mongolia's Tavan Tolgoi coal deposit

ArcelorMittal, Vale and Xstrata are among six bidders short-listed to develop Mongolia's Tavan Tolgoi mine, the world's largest untapped coking coal deposit, Mongolia said on Monday.
U.S. coal miner Peabody , a consortium of Chinese energy firm Shenhua and Japan's Mitsui & Co , and a separate consortium of Japanese, South Korean and Russian companies are the other preferred bidders, said Erdenes MGL, the government body which controls Tavan Tolgoi.

Xstrata reports 86% jump in FY profits

The transnational miner beat analyst expectations when it announced an 86% jump in profits on the back of stronger prices for most of its commodities.

Xstrata Completes Construction of Magnetite Plant in Queensland, Australia

Xstrata Copper announces the completion of construction of the magnetite base plant at Ernest Henry Mining (EHM), a key component of the AUD589 million (US$542 million) project to transform EHM into a major underground copper-gold operation. Read more

Xstrata on course to win Colombian mine auction?

Sunday Times reports Xstrata near to buying one of Colombia's biggest coal miners, currently owned by US group Drummonds. Xstrata remains tight-lipped over prospective acquisition. London-listed miner Xstrata is close to winning the $8 billion auction

Xstrata says it is too early to say when its Blakefield South mine will reopen

The mine, in Australia's New South Wales was closed on Wednesday after a fire broke out in the mine Coal miner Xstrata on Friday said it was too early to say when it could reopen Australia's Blakefield South coal mine, which has been shut down due to a

Xstrata wants to build global iron ore unit

Anglo-Swiss miner Xstrata Plc is looking for more iron ore acquisitions beyond its current takeover bid for Australia's Sphere Minerals , Xstrata's coal and iron ore division chief Peter Freyberg said. The Economic Times reports

Vale, Xstrata still viewed as Baffinland buyers

Baffinland Iron Mines shares are pushing well past the most recent offer price for the company on bets that a company such as Vale SA or Xstrata PLC will make a blockbuster bid to keep the big iron ore deposit …

New Conveyor Idler Aligner Delivers Improved Safety, Precise Adjustment

A new conveyor idler aligner featuring a safe and effective method to manually fine tune OEM-style self-adjusting idlers has been introduced by Martin Engineering. Read more