Glencore Xstrata Plc, the world’s fourth-biggest mining company, is studying separate deals with Rio Tinto Group and BHP Billiton Ltd. in Australia to reap cost savings at struggling coal and nickel operations.
Glencore Xstrata Plc Chief Executive Officer Ivan Glasenberg said the world’s fourth-biggest mining company remains in talks with China Minmetals Corp. for an asset that’s been valued at more than $5 billion.
Glencore Xstrata Plc billionaire Chief Executive Officer Ivan Glasenberg reaped a $182 million dividend for last year after steering the commodity trader and metals producer through a 15-month takeover of Xstrata Plc.
Kazakhmys Plc, Kazakhstan’s biggest copper producer, plans to reorganize into a slimmed-down company focused on its highest-grade and lowest-cost mines, reducing its size by two-thirds. The stock surged by the most on record.
IDE Technologies Ltd. says a slowdown in mining investment won’t deter its plans to expand in Chile and Peru where governments are ordering mining companies to use desalinated seawater over freshwater supplies.
Augusta Resource Corp., the developer of the Rosemont copper mine, rejected a C$343 million ($309 million) unsolicited bid from Canada’s HudBay Minerals Inc. as too low and said it’s pursuing other “value- maximizing” options.
Vedanta Resources Plc’s Konkola Copper Mines Plc unit has removed “a lot of money” from Zambia and wants the government to assume its liabilities that exceed $1.5 billion, said the nation’s Vice President Guy Scott.