Glencore Xstrata confirms ex-BP boss Tony Hayward as chairman May 8, 2014 GLENCORE Xstrata yesterday named Tony Hayward as its permanent chairman, meaning the miner trader remains the only FTSE 100 firm with an all-male board. The Local Authority Pension Fund Forum, which represents 60 pension funds in the UK, said it is advocating an oppose vote to Hayward’s re-election at May’s annual meeting on the grounds [...]
Glencore boosts copper output in first quarter May 6, 2014 COMMODITIES miner and trader Glencore Xstrata yesterday posted a 24 per cent rise in first-quarter copper output, after expanding its operations at two mines. Among diversified miners, the FTSE 100-quoted firm has the biggest exposure to copper, which accounted for almost half of its earnings last year. It added that the performance of its marketing [...]
Glencore uses Bambas cash to snap up Caracal April 14, 2014 GLENCORE Xstrata yesterday swooped for Chad-focused oil company Caracal Energy, offering $1.3bn (£780m) to beat off a rival bid from Canada’s TransGlobe Energy. London-listed Caracal had agreed to a $1.08bn merger with the Canadian oil explorer last month, but the FTSE 100 miner trader trumped the deal with a £5.50 per share offer, representing a [...]
Confessions of a shopaholic: Debt-struck Glencore splashes out on Caracal Energy April 14, 2014 Miner trader Glencore Xstrata has today agreed to buy Chad-focused oil company Caracal Energy for around $1.3bn (£780m), usurping a potential deal between Caracal and Canada’s TransGlobe Energy. CityAM understands that the FTSE 100 firm will fund the acquisition with some of the proceeds from the (upwards of) $6.25bn sale of Peruvian copper mine [...]
Glencore Xstrata upbeat about 2014 after 2013’s weaker prices March 4, 2014 Glencore Xstrata has confirmed that it saw broad production growth over 2013. Copper increased 26 per cent, despite a reasonably challenging year for the metal, and reported revenue rose nine per cent to an astonishing $233bn last year. On a pro forma basis, revenue crept up just one per cent to £239bn, showing that, like others, the [...]