Ivan Glasenberg, Glencore International Plc’s billionaire chief executive officer, has a week to decide on his biggest bet yet -- whether to raise his $33 billion offer for Xstrata Plc or see his five-year effort to create the fourth-biggest mining company disintegrate.
Glencore International Plc adjourned a shareholder meeting called to vote on its $34 billion offer for Xstrata Plc, raising prospects the biggest publicly traded commodities supplier will increase its bid.
Anglo American Plc, the year’s fourth-worst performing FTSE 100 Index stock, cut its platinum output forecast after strikes in South Africa and said its $5.8 billion Minas-Rio iron-ore project will see more cost overruns.
Anglo American Plc is exploring a bid for Macarthur Coal Ltd. that would challenge Peabody Energy Corp.’s A$4.7 billion ($4.9 billion) offer for the Australian miner, said two people with knowledge of the matter.
De Beers , the world’s largest diamond producer, said Chief Executive Officer Gareth Penny will step down later this year after getting the company “back on its feet” with its biggest jump in half-year sales.
Anglo American Plc, battling against Chile’s Codelco for control of copper resources in the country, tracked mine operators higher in London trading as analysts said a lawsuit threatened by the Latin American company was expected.