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/ 6 September 2011
Glencore, the world’s largest commodity trader, has said that it had almost doubled its stake in South African takeover target Optimum Coal to 23.9%.
Optimum Coal Holdings has confirmed it had received expressions of interest from unnamed third parties after rumours Glencore was eyeing the miner.
It’s no surprise Glencore has been so quiet about its holdings. A look at its chequered past and its founder shows a company riddled with controversy.
As 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.
Commodities giant Glencore International said on Wednesday that its partial share float later this month could value the company at $61-billion.
Commodities trader Glencore International is allegedly using dubious tax practices at its Zambian operations, media reports say.
A Namibian high court ruled in favour of a contract held by commodities trader Glencore to import half of the African country’s fuel.
Accusations of inflated costs at a Zambian mine have been made against Glencore.
An imminent flotation will shine the spotlight on commodities giant.
Zambia has asked Glencore International AG to surrender to the government two mining units it plans to temporarily shut down.
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/ 22 January 2008
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.
A M&G investigation into covert party funding has revealed how R11-million of public money was diverted to ANC coffers ahead of the 2004 elections.