Summary Box: Glencore, Xstrata In $90B Merger


Salon Staff
February 7, 2012 9:09PM (UTC)

MOTHER LODE: Anglo-Swiss mining group Xstrata PLC announced plans Tuesday to merge with commodities trading giant Glencore International PLC in a deal that will create the world's fourth largest natural resources group.

COMBINED CONTROL: The combined company, to be called Glencore Xstrata, with a market value of $90 billion, will control a chain of businesses from mining to refining, storage and shipping of basic commodities like coal, copper and corn.

Advertisement:

KING COAL: The new group will be the world's largest producer of thermal coal, used to fire power plants, as well as a major force in mining and producing copper and other metals.


Salon Staff

MORE FROM Salon Staff



Fearless journalism
in your inbox every day

Sign up for our free newsletter

• • •