New deadline for completion is May 2.
Xstrata PLC Mining News
The number of global deals has fallen to its lowest level since 2005.
Rio and Xstrata are not the only miners rethinking their coal business in Australia. Vale and BHP are reportedly on the same page.
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.
South Africa's Competition Tribunal will publish its official decision on the proposed Glencore-Xstrata merger tomorrow.
Eskom's announcement removes one of the last few hurdles in the two companies' quest to create the world's fourth-biggest diversified miner.
The country's iron ore imports in 2012 totalled $95.6 billion, 8.4% higher than the previous year.
Swiss miner Xstrata (LON:XTA) is delaying the commercial production of its $5.9 billion Tampakan copper-gold project in the Philippines to 2019, Sagittarius Mines Inc, the firm's local unit, said Wednesday.
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.
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.
Carbon mining company Cerrejon, a joint venture of BHP Billiton, Anglo American and Xstrata, has decided to postpone a study into the possible diversion of the Rencheria river, in La Guajira, Colombia.
Despite market rumours indicating otherwise, South Africa’s platinum producer Lonmin (LON:LMI) rejected Friday a reverse takeover bid by Xstrata (LON:XTA), its unhappy largest shareholder, as it announced a loss before tax of $698 million in the financial year ending in September.
Global diversified miner Xstrata Plc. (LON:XTA) confirmed Friday it has dismissed 400 of its workers who have been on an illegal strike at its South African mines.
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.
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.
Australia’s Federal Government has seen sunnier days as reports revealed Thursday it has not collected any revenue in the first three months of its much-debated Minerals Resource Rent Tax (MRRT).
Xstrata's CEO Charlie Sartain said that there will be "no progress on the feasibility study [of the Collahuasi mine] until we have full confidence that we are meeting business objectives."
Xstrata Coal (LON:XTA) began to reduce its workforce across its Australian coal operations by firing its first 40 permanent employees out of the 600 announced cuts.
Diversified miner Xstrata (LON:XTA) announced Wednesday it is suspending operations at its Cosmos nickel mine in Western Australia, as nickel prices have plummeted dramatically.
London listed Xstrata (LON:XTA) started Thursday copper production at its $310 million (A$300) Mount Margaret operation in north-west Queensland, Australia.