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. City A.M. 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 [...]