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 over a year now international investors have been following the story of this deal unfold, but an exclusive report published by Reuters could change the expected outcome. According the news agency, Glencore supplied thousands of tons of alumina to an Iranian company that has provided aluminum, a key ingredient in the manufacture of tubes used in uranium enrichment centrifuges, aiding Iran’s nuclear program.
See http://www.mining.com/glencore-delays-closing-of-xstrata-merger-faces-claims-of-aiding-iran-nuclear-program-76942/?utm_source=digest-en-mining-130301&utm_medium=email&utm_campaign=digest.