THE SMART NEWS SOURCE | Feb 10 2012 15:16 | LAST UPDATED Feb 10 2012 15:16 |
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Glencore Xstrata could irk authorities over merger plansBut Glencore and Xstrata executives maintain that they are merely consolidating their business. Huge merger wobbles a lopsided worldXstrata and Glencore to go ahead with merger. Glencore, Xstrata agree to all-share mergerCommodities trader Glencore has reached agreement with Swiss mining group Xstrata on a merger that would create a global group worth $90-billion. NUM and Xstrata reach agreementThe National Union of Mineworkers and Xstrata have reached an agreement on the mining group's employee share ownership plan. Cosatu unions share business interests with King Mswati IIIDespite their campaign against Mswati's despotic rule, Cosatu affiliates have been found to be involved in business deals with the Swazi king. Swaziland loan a 'handout from a sugar daddy'President Jacob Zuma and the ANC appear to be conflicted as complex relationships between President Zuma and King Mswati’s clique emerge. Transnet reports rise in full-year profitFreight group Transnet reported a rise in profit on Monday and said it would spend R110.6-billion on capital investments in the next five years. World's largest company that you know nothing aboutAs Glencore heads for a public listing it has had to declare its interests -- but few believe that it will ever fully transcend its secretive nature. Glencore pricing values firm at about $61-billionCommodities giant Glencore International said on Wednesday that its partial share float later this month could value the company at $61-billion. Piercing Glencore's veil of secrecyAn imminent flotation will shine the spotlight on commodities giant. Xstrata reports sharply higher earningsResources group Xstrata reported it had generated a 544% rise in earnings per share to $1,61 for the year ended December 2010 from $0,25 a year ago. Royal family fears mine foul playAlleged state 'deployees' are accused of trying to steal the wealth of the Bethanie mining community. Xstrata to spend millions on SA smelterSwiss mining giant Xstrata said on Wednesday that it would spend $710-million on expanding a ferrochrome smelter in South Africa. Xstrata in $5bn new mine spend after bumper earningsMining group Xstrata said it would pump over $5-billion into new mines and keep targeting organic growth rather than acquisitions. Cosatu: Chancellor House buys stake in Swazi mineThe ANC's investment arm, Chancellor House Holdings, has acquired a 75% stake in the Maloma Colliery in Swaziland, Cosatu said on Friday. Xstrata won't make offer for Anglo AmericanMining company Xstrata said on Thursday that it won't make an offer for rival Anglo American, backing out of a merger proposal. Anglo American sells stake in Tongaat HulettAnglo American on Thursday said it had sold its 49,5% stake in sugar producer Tongaat Hulett for R523-million to unnamed investors. Xstrata earnings down 77%, repeats Anglo proposalXstrata posted a 77% drop in adjusted earnings per share on Tuesday and repeated its arguments for a "merger of equals" with rival Anglo American. New Anglo chair says Xstrata proposal a distractionThe incoming chairperson of mining group Anglo American, John Parker, believes a "merger of equals" proposal from Xstrata is distracting management. Xstrata sticks to nil-premium merger with AngloMining group Xstrata remains committed to a nil-premium merger with Anglo American, the company said on Sunday. |
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