Glencore and Xstrata announce $90bn merger deal

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%...

Glencore/Xstrata make iron ore a priority

Glencore/Xstrata make iron ore a priority Glencore and Xstrata, set to create a $90 billion mining powerhouse, have put iron ore at the top of their post-merger to-do list, building up the one key commodity where they are all but absent. Yet industry sources caution...