Xstrata and Glencore close in on £40bn merger

The prospect of a marriage between the acquisitive mining group Xstrata and its largest shareholder, the Swiss metals trading group Glencore, looked a step closer as speculation mounted that the two sides were positioning themselves for a £40bn merger. See...

Philippines: Glencore Xstrata further delayed over Tampakan

Glencore Xstrata has finally succumbed to reality in recognising the nature of the opposition it faces to the proposed Tampakan project, and has agreed to further long-term delays (& ‘down-sized’ its workforce in the process). This follows the launch...

Barclays and RBS underwrite Glencore Xstrata

Glencore Xstrata has signed a new $17.3 billion revolving credit facility, to replace the pre-merger credit of Glencore and Xstrata and provide working capital. The facilities were initially launched at $12 billion and were substantially oversubscribed, the...