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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.
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".
The Met Site processes material from the Kidd Mine and outside sources, and employs 875 people. Of the 875 employees 125 work at the concentrator, 205 in the copper operations and 275 in the zinc facilities. The remainder of the employees are support staff. [3] Xstrata announced its plans to close the Metallurgical Site in May 2010.
Sir Michael Lawrence Davis (born 15 February 1958) is a South African businessman, financier and former politician. Davis was the chief executive (CEO) of Xstrata plc, an Anglo-Swiss multinational mining company, until its merger with Glencore in 2013, and former chief executive and treasurer of the Conservative Party.
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It was owned by the Swiss corporation Xstrata (now merged with Glencore). The mine is located in the Cusco Region, Espinar Province, Yauri District, southeast of Yauri. [2] [3] The ore processing rate is at 5,404,000 tons per year and the construction phase of the mine asked for US$368 millions investment.
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