Glencore Xstrata outlines integration initiatives

The newly formed Glencore Xstrata has confirmed that integration initiatives are under way, with clear leadership and reporting lines already in place and an industrial asset portfolio review currently in progress. The combination of commodities...

Glencore still hungry after swallowing Xstrata

After years of on-off talks, months of brinksmanship and often bitter negotiations, Glencore's head Ivan Glasenberg gets to complete the $30-billion acquisition of Xstrata on Thursday, the mining industry's biggest takeover yet. But even as the...

Qld announces tender shortlist for $25bn Aurukun development

The Queensland government has announced a shortlist of companies to tender for the development of the A$25-billion Aurukun bauxite deposit, in Cape York. The Queensland government called for expressions of interest to develop the deposit in...

Davis agrees to step down as Glencore-Xstrata merger clears last major hurdle

Xstrata CEO Mick Davis has agreed to not take up the six-month role of CEO and executive director of the combined Glencore Xstrata group – one of the conditions set by China’s Ministry of Commerce (Mofcom) for it to approve the $33-billion...

Xstrata, Glencore hearing in SA postponed

A hearing by South Africa's Competition Tribunal on commodities trader Glencore's $33-billion takeover of miner Xstrata has been postponed until next month, the tribunal said on Monday. Glencore was expected to defend its case this week after...

Focused on expanding African footprint, commodity diversification, safety

As part of its growth strategy, mining contracting company Murray & Roberts Cementation is growing its presence in Africa and is planning to establish a regional office in Kitwe, Zambia, by June next year to service its current operations in that...

YTC inks A$158m financing, offtake deal with Glencore

Metals developer YTC Resources has secured a A$158-million financing and offtake agreement with commodities trader Glencore International to fund the construction of its Hera and Nymagee projects, in New South Wales. Glencore had committed to...

Abu Dhabi's Aabar writes down Glencore stake

A top shareholder in Glencore, Abu Dhabi's Aabar Investments, has written off more $392-million of its $1-billion investment in the commodities trader, less than two years after taking part in its record listing. Aabar, a unit of Abu Dhabi's...

More work at West Africa’s first zinc mine

Shaft sinking and drilling company Redpath South Africa is negotiating the sinking of a second and perhaps a third shaft at the $72-million Perkoa zinc project, the first zinc mine in West Africa, in Burkina Faso, says Redpath GM Dirk Strachan. He...

Bolivia faces struggle to revitalise image among mining community

In recent months, Bolivia has witnessed a spate of mining disputes, moves to nationalise and renationalise projects, and violence among protesting miners. Populist sloganeering and radical language has often been used to excuse instability and...

SA competition watchdog approves Glencore/Xstrata merger

South Africa’s Competition Commission has approved the $33-billion takeover of diversified miner Xstrata by commodities trader Glencore, subject to conditions regarding employment. The commission concluded that the proposed transaction was...

Banks keener to provide capital as multicommodities centre reduces commodities trade finance risk

Through the Tradeflow initiative the Dubai Multi Commodities Centre (DMCC) is reducing the risks related to commodities trade finance, resulting in banks being more comfortable with providing capital, says DMCC Tradeflow director Paul Boots. The...