Glencore woos investors with promise of aggressive cuts
Glencore Xstrata told investors it would return excess cash, slash costs and might sell unwanted assets, raising expectations it would easily exceed planned synergies of $500 million …
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Africa’s biggest copper producer, Zambia, is planning to repatriate foreign currency made from exports back to the country in an effort to crack down on tax evasion, mainly in the mining sector, reports Financial Times.…
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Glencore clinches Xstrata take-over with Chinese copper deal
Glencore, the world’s largest minerals trader, is to sell the Las Bambas copper mine in Peru, thus satisifying conditions imposed by the Chinese government, and removing the …
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Glencore said last Tuesday it had again extended the date by which it expects to close its merger with Xstrata, due to the ongoing investigation into the deal in China.
Glencore has been waiting for …
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South African miner Shanduka Coal has reported that an unwarranted strike at the Graspan colliery east of Johannesburg, turned violent leaving seven people injured. The mine is partly owned by Glencore and witnessed nearly 250 …
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Glencore and Xstrata announced last Friday that they have, once again, extended the deadline for closing their long-awaited $80 billion merger, scrapping March 15 as a target due to continuing discussion with Chinese authorities.
For …
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Beheadings are putting the mining world through something akin to the French Revolution.
Mining bosses who landed their jobs in the bubble era – 2006 and 2007 – or did their signature top-of-the-market deals in …
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President Santos of Colombia continues to preach the virtues of what he calls the “mining locomotive” of the economy, based mainly on coal, nickel and gold. But this is met with resistance.
In El Cesar …
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Led by the SINTRACARBON union, mine workers at Colombia’s largest coal mine have gone on strike.
See the Declaration of the miner’s union at : http://colombiasupport.net/2013/02/sintracarbon-obliged-to-decree-the-beginning-of-the-strike-against-carbones-del-cerrejon-ltd/ and the history of operation of the mine …
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Zambian subsidiaries of Vedanta Resources Plc and Glencore International Plc are among companies that should pay higher dividends to minority shareholder ZCCM Investment Holdings Plc, the state-controlled investor said. ZCCM, 88 percent-owned by the Zambian …
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In Zambia, unemployment hovers at about 80%, and 60% of the population lives on less than a dollar a day. Seven thousand kilometres north, you’ll find a wealthy Swiss hamlet called Rüschlikon, where a powerful …
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Prior to investing in new resource colonies, multinational mining corporations frequently change a country’s mining laws to remove restrictions on foreign ownership, reduce taxes, ease environmental protections and guarantee access to water supplies needed for …
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