Xstrata

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This article is part of the Coal Issues portal on SourceWatch, a project of CoalSwarm and the Center for Media and Democracy. See here for help on adding material to CoalSwarm.

Xstrata was "a major global diversified mining group", based in Switzerland. The company had a "position in seven major international commodity markets: copper, coking coal, thermal coal, ferrochrome, nickel, vanadium and zinc, with additional exposures to platinum group metals, gold, cobalt, lead and silver, recycling facilities and a suite of global technology products, many of which are industry leaders." [1]

The group was active in 19 countries: Argentina, Australia, Brazil, Canada, Chile, Colombia, the Dominican Republic, Germany, New Caledonia, Norway, Papua New Guinea, Peru, the Philippines, Republic of Ireland, South Africa, Spain, Tanzania, the USA and the UK.[1]

"Xstrata completed the acquisition of Falconbridge on 2 November 2006." [2]

On 2 May 2013 ownership of Xstrata was fully acquired by Glencore International.[3]

Xstrata and coal

A November 2007 presentation to investment analysts by the President of BHP Billiton Coal, Dave Murray, noted that Xstrata had an 9% share of the global coal export trade, making it the largest coal exporter in the world.[4]

Xstrata's coal projects are operated under the banner of its wholly owned subsidiary Xstrata Coal. (See this page for more details on the company's coal operations).

Ulan mine expansion

In November 2010, Mitsubishi said that it and Xstrata would roughly double the production capacity of the Ulan Coal mine in New South Wales state in Australia to 12.9 million metric tons a year, with commercial production targeted starting in 2014. Mitsubishi has a 10% stake in the mine while Xstrata holds the remainder. The two partners will invest A$1.3 billion in the expansion, the Japanese trading house said in a statement. The partners will sell the new output to Japan and other foreign customers.[5]

Ownership

Glencore International owns approximately 35% of Xstrata, which has substantial coal mining operations in Australia, South Africa, Canada and Colombia.[6] [6] On its website Glencore states that it "has a market advisory agreement with Xstrata with respect to its export Coal sales. [6]

Board

Accessed February 2011: [7]

Personnel

Non-executive directors:

Contact

Bahnhofstrasse 2
PO Box 102
6301 Zug
Switzerland
Tel: +41 41 726 60 70
Fax: +41 41 726 60 89
E-mail: info AT xstrata.com
Web: http://www.xstrata.com

Resources and articles

Related Sourcewatch articles

References

  1. 1.0 1.1 Home, Xstrata, accessed March 16, 2008.
  2. Falconbridge Offer, Xstrata, accessed May 11, 2010.
  3. Glencore finishes takeover of Xstrata. FT.com (2 May 2013). Retrieved on 3 May 2013.
  4. Dave Murray, "BHP Billiton Coal CSG Anlayst Visit: Hunter Valley Energy Coal", BHP Billiton, November 2nd, 2007.
  5. "Mitsubishi Corp: To Double Australia Coal Mine Capacity By 2014" Fox Business, Nov. 16, 2010.
  6. 6.0 6.1 6.2 Glencore International, "Coal", Glencore International website, accessed June 2008.
  7. Board, Xstrata, accessed February 20, 2011.
  8. Management, Xstrata, accessed June 2008.

External articles