Glencore and Xstrata deal said to seal Chinese regulator approval

(Source: Reuters)

There are reports that miner Glencore has sealed the approval of Chinese regulators to acquire Xstrata. There was speculation early this week that Glencore was ready to give some ground to Chinese regulators:

After months of negotiations, Glencore is ready to yield some ground, with analysts and market sources pointing to a likely sale from among Xstrata’s promising – though challenging – greenfield copper projects, which could include Las Bambas in Peru, due to begin production in 2015.

Industry sources said a solution might also involve giving China a guaranteed slice of the group’s copper production.

(Full article)