China's state-backed miners have looked at Xstrata but are unlikely to bid for it, leaving Brazil's Vale or Anglo-American best placed to snap up the Anglo-Swiss miner. Vale, which produces a fifth of the world's iron ore, said on Monday that it was in talks with Xstrata about a takeover.
Shell's experience in the Russian Federation proves the Kremlin has slammed the door on foreign investors who want control of strategic projects -- and other investors would do well to take heed, analysts and fund managers said on Monday. Shell has offered to cede control of its $22-billion Sakhalin-2 project to the state gas monopoly.
Russian President Vladimir Putin presided over more than a billion dollars of new deals in Cape Town on Wednesday and predicted a wave of others in a powerful economic foray into South Africa. ''In Russia we have great respect for the economic achievements of South Africa,'' he told President Thabo Mbeki at a business forum in Cape Town.