A Chinese consortium bought the Las Bambas copper mine in Peru from Glencore Xstrata for $6 billion, the high end of analysts' forecasts in China's biggest acquisition of a mine, showing the strength of its long-term need for copper.
Glencore will cut costs, shelve projects and squeeze more than expected from its record-breaking purchase of mining group Xstrata, lifting benefits from the deal to at least $2 billion in 2014.
In an update on the $46 billion tie-
Foreign investment in British companies hit a six-year high of 23.4 billion pounds ($36.4 billion) in the second quarter as the economy started to grow, though the bulk came from one deal - Glencore's takeover of Xstrata, data showed.
Jiangxi Copper has joined a list of potential Chinese suitors interested in buying Glencore Xstrata $5 billion-plus Las Bambas copper mine in Peru, a report said.
Glencore's sale of the mine comes at an opportune time for Chin
Shareholders in commodities trader Glencore have overwhelmingly approved its long-awaited $31 billion takeover of miner Xstrata, paving the way for one of the largest tie-ups in the sector to date.
After nine months of tense negot
(The author is a Reuters Breakingviews columnist. The opinions expressed are her own.)
Qatar is dodging its shareholder duty. The emirate successfully used its muscle to extract better terms from Glencore in the commodity trader
Commodity trader Glencore's $32 billion takeover of Swiss miner Xstrata looked set to go ahead after winning the backing of Qatar Holdings, the bid target's second-largest shareholder.
Qatar, an unexpected kingmaker in Gle
EU antitrust regulators have set a Nov 8 deadline to decide on whether to allow trader Glencore's $33 billion takeover of miner Xstrata, after months of talks which the companies hope will help avoid forced sales or a lengthier, in-depth pro
Mining group Xstrata gave its long-awaited blessing on Monday to a revised $33 billion bid from trader Glencore, bowing to investor pressure by changing the deal to ensure a payment plan to keep its top managers does not sink t