Approval of the proposed Xstrata-Glencore merger would give the new company 16 percent control of global zinc ore production and more than 60 percent of global refined zinc sales. Management must convince the European Commission that its deal does not violate antitrust thresholds.
A proposed merger between Glencore and Xstrata has brought a lot of attention to zinc. Unfortunately, zinc's moment in the spotlight also comes at a time of rising mined and refined supply which has pushed spot and three month zinc prices lower.
Australian Mining Journal reported that Xstrata (LSE:XTA) has commissioned ABB (NYSE:ABB) for a hoisting system at the George Fisher mine.
Steel Guru.com reports that Xstrata (LON:XTA) will increase both zinc and lead production.
Donner Metals( CVE:DON) and Xstrata Zinc(LON:XTA) announced that together, they have received the “Development of the Year” award. The press release is quoted as saying: This award was presented at the Quebec Exploration 2010 conference in recognition of the commencement of development of the Bracemac-McLeod Mine in July of this year. Under the feasibility study completed [...]
ABC .com reports that an expansion of one of the largest zinc mines in the world, owned by Xstrata(LON:XTA), will create hundreds of jobs, and may also signal a mining boom for the region.
Reuters.com reports that Xstrata (LON:XTA) wants to boost output at it's George Fisher mine by 30% by 2013, so intends to invest $246 mln.
The world's largest zinc producer, India-focused mining group Vedanta Resources solidified its top position on May 10 announcing the purchase of Anglo American's zinc assets in Africa and Ireland. Obtaining 11 percent of global zinc production by increasing its capacity by 37 percent, the company expects to make a positive return on its investment within 3 years.
Global miner Xstrata has suspended underground mining at its George Fisher zinc operation in northern Australia after a worker died in an accident there. For full story, click here
Xstrata Zinc declared that its zinc in concentrate production surged by 21% in the Q1 of 2009 compared to the same period in 2008. For full story, click here
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