Search

The article considers mining company Glencore PLC's efforts to acquire rival Rio Tinto PLC. Since Rio rebuffed Glencore the price of iron ore, which Rio specializes in, has fallen significantly while that of copper, which Glencore has large holdings of, has fared better. Mining analyst Paul Gait says Rio will have to either change its strategy or sustain a sizable drop in earnings, which could make it vulnerable to a takeover by Glencore.

The article discusses the trend of reverse corporate mergers in Australia involving technical companies and resources businesses. Topics include the effect of reverse mergers on backdoor listings on the Australian share market, the effect of falling commodity markets on mining equities, and a chart of technology companies' presence on the Australian Securities Exchange.

The article reports that in August 2014 mining company Rio Tinto rebuffed a merger proposal from mining-and-trading firm Glencore PLC, and considers the potential impact of a combined entity on the global mining industry. A merger would help Glencore chief executive Ivan Glasenberg pursue his goal of supporting prices when demand is weak by cutting production. Additional information is provided about Glasenberg's business career.

The article discusses circumstances making mergers attractive in the gold-mining industry. The depletion of existing mines and rising costs of mining have firms seeking efficiencies through combinations. Between 1995 and 2012 the number of newly-discovered gold deposits with at least two million ounces of gold declined from 22 to zero. In 2014 gold miner Barrick Gold Corp. sought unsuccessfully to merge with rival Newmont Mining Corp.

The article reports that in April 2014 gold-mining companies Newmont Mining Corp. and Barrick Gold Corp. held abortive merger talks. Information is presented on how both firms have coped with a decline in the price of gold since 2013, expansion by both firms that has proven excessive, and the performance of their stock prices.

The article reports that mining firm Glencore Xstrata PLC is focused on integration following the merger of Glencore International PLC and Xtrata PLC in May 2013. Topics include chief executive officer (CEO) Ivan Glasenberg's plans for employee layoffs as part of the firm's restructuring, the process of transitioning to a publicly traded company, and Glasenberg's views on future mining investments.

The article discusses construction company Caterpillar Inc.'s purchase of Chinese mine-safety equipment company Zhengzhou Siwei. Caterpillar hoped that the purchase would increase profits by increasing its access to China's mining industry, but the authors report that corrupt accounting practices at Siwei's parent company, ERA Mining Machinery Ltd, has devalued the company. The impact of competition and decrease construction demands in China on Caterpillar's finances are also covered.

The article reports that the mining company Xstrata PLC has created a revised proposal for a merger with commodity trading and mining company Glencore International PLC. It states that the proposal features a new shareholder voting structure in addition to a revised board configuration plan. A previous merger proposal is also discussed, including debate over an incentive plan for retaining Xstrata managers that delayed the merger.

This article discusses the status of a potential merger between commodity trading company Glencore International PLC and coal and mining company Xstrata PLC. Topics include an offer by Glencore of 36 billion dollars for Xstrata, the controversy arising from Glencore's intentions to have its own chief executive officer head the combined company, and reservations held by Xstrata investor Qatar Holding LLC concerning the merger deal.

The article discusses a disagreement between the mining companies Glencore International PLC and Xstrata PLC regarding the price of the merger. Topics include Glencore's efforts to acquire Xstrata; the investment company Qatar Holding LLC which owns a large stake in Xstrata; and a vote by Xstrata shareholders in September 2012 to determine whether or not to merge with Glencore.

The article examines the proposed merger of mineral industries firms Glencore International PLC and Xstrata PLC. An investigation of the merger by the European Union (EU) antitrust regulatory agency and objections to the merger by stockholders of Xstrata are discussed in terms of their ability to delay the merger until at least the spring of 2013 or to prevent it.

The article focuses on financier Robert Friedland, Chief Executive Officer (CEO) of the mineral industries company Ivanhoe Mines Ltd. Friedland's possible reaction to the acquisition of a majority of Ivanhoe's stock by the firm Rio Tinto PLC is considered. Rio wishes to control a large Ivanhoe copper and gold mining project in Mongolia while selling off the rest of that company. It is reported Friedland is negotiating the sale of his stock in Ivanhoe to Rio Tinto.

The article reports that Standard Life Investments Ltd. and Schroeder Investment Management Ltd, large stockholders of the mineral industries firm Xstrata PLC have objected to that firm's proposed merger with Glencore International AG. The possibility that stockholders of the two companies could prevent the merger is considered.

The article reports that the Swiss mineral industries firms Glencore International AG and Xstrata PLC are in discussions for a merger. Glencore is a mining industry firm and Xstrata a raw materials trading company. The possible merger is considered as an indication of further mergers within the mining industry.

The article reports that mining company BHP Billiton Ltd. will acquire oil-and-natural-gas producer Petrohawk Energy Corp. for over $12 billion. Billiton has sought to expand beyond minerals and mining, and the deal with Petrohawk brings with it access to sizable shale-gas assets in Louisiana and Texas.

The article reports that minerals company Equinox Minerals Ltd. has agreed to be bought out for $7.65 billion by gold miner Barrick Gold Corp. Barrick's bid exceeds one made earlier for Equinox by Chinese mining firm Minmetals Resources Ltd. Shares of Equinox rose above Barrick's offer, indicating investors anticipated one or more additional bids.

The article reports that strong commodity prices and rising demand from emerging markets has prompted a spate of merger activity among mining firms. Several acquisitions are noted including mining company Andean Resources Ltd.'s buyout of gold producer Goldcorp Inc., and the purchase of Western Coal Corp. by energy firm Walter Energy Inc.

The article reports that mining firm BHP Billiton's $38.6 billion proposal to buy potash producer Potash Corp. of Saskatchewan was provisionally denied by Canada's Industry Minister, Tony Clement, who said the deal did not meet the standard of creating a "net benefit" for Canada. BHP will have 30 days in which to revise its offer.

The article reports that the board of directors of coal miner Massey Energy Co. has established a committee to explore options for the firm, which may include sale of the company or acquisition of another company. Financial-services firm UBS AG is advising Massey, which gained notoriety in April, 2010 when an explosion at a West Virginia mine killed 29 people.

The article focuses on potential acquisitions by mining business BHP Milliton. It states that BHP's chief commercial officer, Alberto Calderon, said that BHP is not under pressure to make more acquisitions but has set aside around 10 billion dollars in fiscal year 2009 to expand existing projects and develop new projects. Calderon mentioned that BHP has sufficient cash on hand and low debt to enable the company to borrow added funds.

The article reports that Rio Tinto has withdrawn from a proposed $19.5 billion deal under which Aluminum Corp. of China would have obtained an 18% share of the firm. Several factors influenced Rio's decision including shareholder opposition to the deal and political considerations. Aluminum Corp. chairman Xiong Weiping expressed disappointment at the turn of events.

The article focuses on the claim of mining company British Rio Tinto PLC chief executive officer Sam Walsh that he is not interested in making a merger bid with its Swiss counterpart Glencore PLC as he sees both businesses as not well aligned.

Discusses gold prices, which are near 25-year highs, and investors' interest in the mining industry. Factors contributing to the investment risks associated with smaller mining companies are mentioned. Stock prices for Newmont Mining Corp. and Freeport-McCoRan Copper & Gold Inc. have risen 40% and 75% in the past year. The outlook for Bema Gold Corp., Hecla Mining Co., Placer Dome Inc., Barrick Gold Corp., Eldorado Gold Corp., and Yamana Gold Inc. is mentioned, as well as consolidation in the Canadian and U.S. industries.

The article discusses the continued contact in April 2014 between officials with Barrick Gold Corp. and Newmont Mining Corp., focusing on merger plans, disagreement over the planned spinoff of some assets, Barrick founder and chairman Peter Munk, and Barrick co-chair John Thornton.

The article discusses an initiative to regulate the rare-earths industry in China that will involve the consolidation of producers such as Inner Mongolia Baotou Steel Rare-Earth Group Hi-Tech Co., China Minmetals Corp., and Aluminum Corp. of China as of January 2014.

The article presents corporate news briefs as of January 22, 2013 on topics such as airline LOT Polish Airlines, oil company Total SA's operations in Uganda, and a proposed merger between mining companies Glencore International PLC and Xstrata PLC.

The article looks at mining and minerals company Rio Tinto, as of January 2013, reporting on the resignation of chief executive officer (CEO) Tom Albanese and discussing business and financial problems at the firm, including acquisitions that failed to live up to expectations.

The article looks at a planned merger of commodities trading company Glencore International PLC and mining company Xstrata PLC as of November 2012, reporting that European Union (EU) antitrust regulators have approved the deal.

The article reports that shareholders in the natural resource extraction firm Xstrata PLC approved a merger with the commodities firm Glencore International PLC as of November 2012, with Xstrata Chairman John Bond resigning due to shareholder rejection of pay incentives for executives.

The article discusses the difficulties related to deals among mining companies, such as the unpredictable nature of revenue streams connected to commodities, the need for strong stock-market valuations, and agreements over share-swap ratios.

The article discusses a proposed merger between the mining companies Xstrata and Glencore, examined institutional shareholders including Schroders and Standard Life who have opposed the merger, the long-term strategic benefits of the merger, and Glencore's debt.

The article explores the impact of the proposed merger of mining companies Glencore International AG and Xstrata PLC on international mining industries considering topics such as Asia's economic development, political stability and mining in Africa, and the rise in the volume of world commodity markets over the past decade as of 2012.

The article comments on the influence of the demands by Asian consumers for minerals on the mergers and acquisitions activities of companies in the region in 2011,

The article reports that concerns regarding Chinese mining acquisitions were overblown as data from PriceWaterhouseCoopers showed that it accounted for only 12 billion of the 113 billion U.S. dollars worth of transactions in 2010.

The article focuses on the efforts of minerals explorer Franconia Minerals Corp. in looking for partnerships with larger companies at a time when mining merger and acquisition activity is high.

The article reports that Chinese firms were able to participate in 13 billion U.S. dollars of outbound mining acquisitions and investments in 2009 according to Dealogic, a data tracker.

The article reports on the conditional approval granted for a takeover deal between coal miner Felix Resources Ltd. and Yanzhou Coal Mining Co. in Australia. Yanzhou has agreed to run its mines in the country through the company Yancoal Australia Pty. Ltd. and list it on the Australian stock market by 2012. The Australian Foreign Investment Review Board (FIRB) rejected a takeover bid of a Chinese company for rare-earths miner Lynas Corp. in September. Yanzhou will not be allowed to own over 50% of mines run by Felix.

The article reports on the plan of Anglo American PLC to sell some of its assets and businesses and focus on metals and minerals holdings. The plan was made public by the company after rival Xstrata PLC decided not to push through with a merger. Some of the businesses to be sold are Scaw Metals, Catalao alloy and Copebras fertilizers.

The article reports on Anglo-Swiss mining firm Xstrata PLC that will be compelled to make a formal merger offer for rival Anglo American PLC in 2009. Xstrata will be given by the British Takeover Panel until October 20 to formalize its offer or walk away from the deal for six months at the minimum. The consolidation would produce products with a market value of about 80 billion U.S. dollars. Xstrata and Anglo American have been at a stalemate since the latter refused to accept the proposed merger in June.

The article reports on the surge in mining mergers due to the lack of corporate finance. It notes that companies have closed deals with exploration and development firms that are experiencing challenges as independent entities resulting to an increase in takeovers among miners. Data from Dealogic show that the value of such proposed takeovers has risen to 122.1 billion dollars in the second quarter of 2009. Several proposed mergers are discussed including that between Xstrata PLC and Anglo American PLC and that of Gold Fields Ltd. and Glencar Mining PLC.

The article reports on a drop in net profit posted by miner Xstrata PLC for the first half of 2009 even as it pressed its case for a proposed merger of equals with rival Anglo American PLC and dismissed calls to sweeten the offer. Xstrata chief executive Mick Davis said in an interview that he is frustrated that Anglo's board has refused to engage with him, but his company would be patient. Net profit of Xstrata reportedly fell to 643 million U.S. dollars for the first-half of 2009.

The article focuses on the efforts of miners and drug makers to boost growth by consolidating staff and cutting other costs amid the global economic slowdown in 2009. It mentions Xstrata's merger proposal with Anglo American and Rio Tinto's proposed joint venture with BHP Billiton. According to Dealogic, there had been about $150 billion of health-care deals announced as of June 22, 2009. It also concluded that by comparison, the hurdles facing global mining consolidation deals make deals in the pharmaceutical industry an easy task.

The article reports on the decision of British mining company Anglo American PLC to reject a merger proposal by rival Xstrata Plc. According to Anglo, the proposed deal is strategically unattractive with unacceptable terms. A number of Anglo shareholders also rejected the proposed merger. Anglo said in a statement that the deal would dilute its exposure to the attractive market for platinum, iron ore and diamond while increasing its exposure to the less-desirable nickel and zinc markets.

The article reports that Xstrata PLC has presented Anglo American PLC with a merger proposal. A combination of the two would create the world's third-largest mining firm, with a value in excess of $65 billion. Although billed as a merger of equals, the resulting company would be led substantially by Xstrata executives including chief executive Mick Davis.

The article reports on the cash bid issued by commodity trader Noble Group for Gloucester Coal Ltd. in an attempt to prevent the merger of the miner with Whitehaven Coal Ltd. Noble which has the largest stake in Gloucester has offered 396 million Australian dollars to acquire Gloucester. It relates the criticisms raised by Noble on the proposed merger between Gloucester and Whitehaven. Noble has successfully prevented a takeover bid by Xstrata PLC for Gloucester in 2007.

The article reports that China Minmetals Corp. has made a takeover offer for Australian mining industry firm OZ Minerals Ltd, a leading zinc producer. The offer is part of an overall attempt by Chinese corporations to obtain sources of raw materials on favorable terms. OZ is facing major financial difficulties related to its corporate debt.

The article reports on the initiative of Xstrata PLC to prevent the takeover of Indophil Resources NL by purchasing shares for A$82 million increasing its interest to 20%. Xstrata and Indophil are partners in the Tampakan copper and gold deposit project in the Philippines. Xstrata acquired the shares from Lion Selection Ltd. for A$1.17 per share. However, Ilyas Khan of Crosby Capital Ltd. disagrees with the transfer of stock as the share price is valued at A$1.30.