Mining firm Xstrata has formally announced plans to merge with Glencore, the world’s biggest commodity trader. The deal would value the combined new business at $90bn (£56bn), of which Xstrata would comprise $39bn.
The announcement came as Xstrata revealed a 20% increase in profits for 2011, to $5.9bn (£3.8bn).
There are significant concerns about both companies’ records on human rights, labour rights and the environment. See articles listed at,, and
See also: How £50m in UN food aid for starving went to buy wheat from Glencore,