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/ 20 October 2010
Swiss mining giant Xstrata said on Wednesday that it would spend $710-million on expanding a ferrochrome smelter in South Africa.
Mining group Xstrata said it would pump over $5-billion into new mines and keep targeting organic growth rather than acquisitions.
The ANC’s investment arm, Chancellor House Holdings, has acquired a 75% stake in the Maloma Colliery in Swaziland, Cosatu said on Friday.
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/ 15 October 2009
Mining company Xstrata said on Thursday that it won’t make an offer for rival Anglo American, backing out of a merger proposal.
Anglo American on Thursday said it had sold its 49,5% stake in sugar producer Tongaat Hulett for R523-million to unnamed investors.
Xstrata posted a 77% drop in adjusted earnings per share on Tuesday and repeated its arguments for a ”merger of equals” with rival Anglo American.
The incoming chairperson of mining group Anglo American, John Parker, believes a ”merger of equals” proposal from Xstrata is distracting management.
Mining group Xstrata remains committed to a nil-premium merger with Anglo American, the company said on Sunday.
Anglo American has appointed Sir John Parker as chairperson to bolster the mining company’s defences against an takeover bid from rival Xstrata.
Anglo American, which has rebuffed a merger approach from rival Xstrata, has appointed veteran industrialist John Parker as chairperson.
South Africa has put together a list of proposed black candidates for a new chairperson of Anglo American, including Cyril Ramaphosa.
The government seems set to oppose a possible merger between mining giants Anglo American and Xstrata, it emerged on Tuesday.
Anglo American rejected rival mining group Xstrata’s ”merger of equals” proposal on Monday, knocking a no-premium marriage.
Xstrata wants talks with Anglo American about a proposed merger of equals worth about -billion, seeking increased scale and cost synergies.
More than 100 workers at Xstrata Alloy’s smelter in Rustenburg in the North West have been fired.
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/ 1 December 2008
Mining group Xstrata and joint venture partner Merafe Resources have suspended more ferrochrome production due to weak market conditions.
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/ 10 November 2008
Xstrata and its chrome partner Merafe Resources said on Monday they would suspend six ferrochrome furnaces in South Africa due to weak demand.
BHP Billiton’s may have to pay more for a -billion loan, but this is unlikely to force it to abandon its -billion bid for rival Rio Tinto.
Miner Xstrata said on Wednesday it would not to make a formal -billion takeover offer for number three platinum producer Lonmin.
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/ 8 September 2008
Mvelaphanda Resources denied on Monday it was in talks with Aquarius Platinum about a merger with the world’s number three platinum producer Lonmin.
Miner Xstrata unveiled a -billion takeover bid for the world’s third-biggest platinum producer, Lonmin, to diversify its business.
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/ 6 February 2008
BHP Billiton launched a hostile ,4-billion bid for rival Rio Tinto in a move that could trigger a Chinese-led counterbid in the world’s second biggest corporate takeover. Combined, BHP and Rio would create the world’s third-richest company, with a market capitalisation eclipsed only by Exxon Mobil and General Electric.
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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.
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/ 12 September 2007
Xstrata has gained support for its -billion takeover of Eland Platinum Holdings from the South African company’s board, Eland said on Wednesday. ”The board is of the unanimous opinion that the terms and conditions of the offer are fair and reasonable to Eland shareholders,” the Johannesburg-based company said in a statement.