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Rio, Glencore in talks over Australian coal assets: sources

By Clara Ferreira-Marques LONDON (Reuters) - Miners Rio Tinto <RIO.AX> <RIO.L> and Glencore Xstrata <GLEN.L> have held early-stage talks to consider a plan that could combine thermal coal assets in Australia as they battle low prices and high costs, two sources familiar with the plan said.

Glencore Xstrata fires 1,000 S.African strikers

Swiss-based Glencore Xstrata has dismissed 1,000 workers who staged wildcat strikers at its South African chrome operations last week, the firm said Monday, amid continuing tensions between rival unions in the key mining sector. "These thousand people have been dismissed Friday and over the weekend. They have until tomorrow, Tuesday, to appeal their dismissal," spokesman Christopher Tsatsawane told AFP. Workers downed tools last Tuesday on the Helena, Magareng and Thorncliffe sites in the northern province of Limpopo.

Glencore says three South Africa chrome mines hit by wildcat strikes

JOHANNESBURG (Reuters) - Glencore Xstrata Plc said on Thursday three of its chrome mines in South Africa were at a standstill after up to 1,500 workers embarked on an illegal strike this week. The dispute at the mines near Steelpoort, northeast of Johannesburg in the Limpopo province, adds to long-running friction in the mining industry that has caused production to slow, raised concerns about Africa's largest economy and sent the rand to new four-year lows.

Glencore Xstrata scraps plans for Australia coal export terminal

PERTH (Reuters) - Glencore Xstrata <GLEN.L> is stopping work on a planned 35 million tonnes per annum Australian coal export terminal as a result of poor market conditions, making it likely it will also scrap an associated coal mine. The decision to halt work on the Balaclava Island export terminal in eastern Australia was made following a review of the project after Xstrata's merger with Glencore.

Glencore, Xstrata complete merger

Geneva, May 2 (EFE).- Commodities trading house Glencore and mining group Xstrata have completed their long-awaited merger, creating one of the most powerful companies in the raw materials sector. Glencore made the announcement early Thursday in a statement on its Web site, saying the new company would be named Glencore Xstrata plc. The all-share tie-up will result in a company with combined revenues of roughly $220 billion annually, a market capitalization of some $86 billion and 130,000 employees worldwide.

Glencore clinches Chinese approval with copper deal

By Clara Ferreira-Marques LONDON (Reuters) - China's antitrust authorities removed the last obstacle to Glencore's <GLEN.L> $30 billion (19 billion pounds) takeover of miner Xstrata on Tuesday after the commodities trader agreed to sell a $5.2 billion mining project to ease its grip on copper. Xstrata's Las Bambas mine in Peru had been expected to be sacrificed to secure the approval of China's Ministry of Commerce, but Glencore also agreed 8-year commitments covering the supply of copper, zinc and lead to China.

China's regulator approves Glencore-Xstrata merger

A long-awaited merger between Swiss commodities trader Glencore with mining giant Xstrata has won a green light from China's regulator, clearing a key final hurdle, Glencore announced Tuesday. Glencore said in a statement that Beijing had given its backing on condition that once the merger was completed, the combined group sells its interest in the Las Bambas copper mine project in Peru to Chinese-approved players by the end of September 2014.

China's regulator approves Glencore-Xstrata merger

A long-awaited merger between Swiss commodities trader Glencore with mining giant Xstrata has won a green light from China's regulator, clearing a key final hurdle, Glencore announced Tuesday. Glencore said in a statement that Beijing had given its backing on condition that after the merger the group sells its interest in the Las Bambas copper mine project in Peru to Chinese-approved players by the end of September 2014.

Glencore to sell Las Bambas for Xstrata approval

LONDON (Reuters) - Commodities trader Glencore said it would sell its interest in Xstrata's Las Bambas copper project in Peru after it buys the miner, clearing a final hurdle set by Chinese regulators for the multi-billion dollar deal. The company also announced that Xstrata Chief Executive Mick Davies would step down from Xstrata on completion of the merger. Glencore said on Tuesday it would sell its interest in the project to a purchaser approved by China's Ministry of Commerce (MOFCOM) by September 15 2014.

Glencore clinches Chinese approval with copper deal

By Clara Ferreira-Marques LONDON (Reuters) - China's antitrust authorities removed the last obstacle to Glencore's $30 billion (19.6 billion pounds) takeover of miner Xstrata on Tuesday after the commodities trader agreed to sell a $5.2 billion mining project to ease its grip on copper. Xstrata's Las Bambas mine in Peru had been expected to be sacrificed to secure the approval of China's Ministry of Commerce, but Glencore also agreed 8-year commitments covering the supply of copper, zinc and lead to China.
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