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Xstrata plc was an Anglo-Swiss multinational mining company headquartered in Zug, Switzerland and with its registered office in London, United Kingdom. [2] It was a major producer of coal (and the world's largest exporter of thermal coal), copper, nickel, primary vanadium and zinc and the world's largest producer of ferrochrome. [2]
The deadline for Xstrata's bid to be complete was 21 July 2006. Xstrata acquired and absorbed Falconbridge in late August 2006, leaving Inco open to bids by Phelps Dodge and the Brazilian company CVRD. [5] [6] Falconbridge became Xstrata Nickel, which continued to be based in Toronto. On 2 May 2013 Glencore completed the merger with Xstrata.
After more than a year of twists and turns and negotiations, the $75 billion merger between Glencore International and Xstrata became official today. The new company will also get a new name later ...
According to The Sunday Times, by 2006, Glencore controlled 40% of Xstrata stock and appointed Xstrata CEO, Mick Davis. [45] [47] In February 2012, Glencore International Plc, agreed to buy Xstrata Plc for £ 39.1 billion (US$62 billion) in shares. Glencore offered 2.8 new shares for each Xstrata share in agreed all-share "merger of equal".
Less than a year after completing its merger with Falconbridge, the new company was acquired by Xstrata. The Noranda name continues for companies with Noranda Aluminum, which was the spun off by Xstrata, and the Noranda Income Fund which is a large zinc refinery in Salaberry-de-Valleyfield, Quebec.
MIM Holdings was taken over by Xstrata for a total of US$2.96 billion (A$4.93 billion), including assumed debt, in 2003, [3] and delisted from the Australian Stock Exchange on 30 June 2003. [1] At that time, MIM Holdings was one of the world's biggest coal exporters. [4] On 2 May 2013, Xstrata merged with Glencore to form Glencore Xstrata plc. [5]
Originally Xstrata CEO Mick Davis was to be CEO while Glasenberg would be President in a merger-of-equals transaction, however, due to holding out of major Xstrata shareholder Qatar, it became a takeover target, [16] with a 3.05 Glencore to 1 Xstrata Share exchange to create the new entity Glencore Xstrata with Glasenberg becoming CEO. Davis ...
The Kidd Metallurgical Site (or Met Site) is a metallurgical facility in Timmins, Ontario, Canada.It was built in 1980 and owned and operated by Xstrata Copper, following their 2006 takeover of Falconbridge Ltd. [1] [2] The site employs approximately 675 hourly employees.