Glencore Xstrata Plc wants to win over investors in the newly combined group with plans to study special dividends and share buybacks after completing a deal that creates the biggest zinc producer and steam-coal exporter.
Glencore Xstrata Plc, the world’s biggest zinc miner and exporter of coal for power stations, rose on its first day of trading as a combined company in London, with the share market valuing the group at about $70 billion.
Glencore Xstrata Plc, the world’s biggest zinc miner and exporter of coal for power stations, rose on its first day of trading as a combined company in London, with the share market valuing the group at $69 billion.
Glencore Xstrata Plc hired two former Xstrata Plc executives as division heads amid the departure of a number of senior managers as it completed the takeover of the coal exporter, a person familiar with the matter said.
Fortescue Metals Group Ltd. , Australia’s third-biggest producer of iron ore, will return to the bond market to raise funds for an $8.4 billion expansion to be finalized today, Merrill Lynch & Co Inc. said.
The record slump in natural-gas prices signals companies from BHP Billiton Ltd. to Ultra Petroleum Corp. are at risk of writing off billions of dollars of assets following a bubble in U.S. shale-gas acreage.
Mount Gibson Iron Ltd. , an Australian iron ore producer, had its rating cut by Merrill Lynch because the company’s major shareholder and customer Hong Kong-based APAC Resources Ltd. took control of the board.
BHP Billiton Ltd. and Rio Tinto Group , the world’s largest- and third-largest mining companies, may abort their proposed iron ore joint venture by the end of the year because of regulatory objections, Merrill Lynch said.
The possible introduction of a 40% resources tax may make Australia, the world’s biggest exporter of iron ore, alumina and coal, the most highly-taxed mining nation, cutting its competitiveness, Citigroup Inc. said.