April 23, 2014 2:13 PM ET

Metals and Mining

Company Overview of Glencore Xstrata plc

Company Overview

Glencore Xstrata plc is engaged in the production, sourcing, processing, refining, transporting, storage, financing, and supply of commodities worldwide. It operates in three segments: Metals and Minerals, Energy Products, and Agricultural Products. The Metals and Minerals segment is involved in mining, smelting, refining, and warehousing copper, nickel, zinc/lead, ferroalloys, alumina/aluminum, and iron ore products. The Energy Products segment activities include coal mining and oil production operations; and investments in handling, storage, and freight equipment and facilities. The Agricultural Products segment is engaged in the handling, processing, and storage of grains, such as wheat, ...

Baarermattstrasse 3

Baar,  6340


110,378 Employees


41 41 709 20 00


41 41 709 30 00

Key Executives for Glencore Xstrata plc

Chief Executive Officer
Age: 56
Total Annual Compensation: $925.0K
Chief Financial Officer
Age: 42
Total Annual Compensation: $232.0K
Compensation as of Fiscal Year 2013.

Glencore Xstrata plc Key Developments

Glencore To Divest Its Interest In Tampakan Project; Indophil Expresses Interest

Glencore Xstrata plc (LSE:GLEN) is planning to sell its Tampakan project, operated by Sagittarius Mines, Inc. Indophil Resources NL (ASX:IRN) has expressed interest in acquiring full ownership of Sagittarius Mines. Gavan Collery, Vice President for Corporate Affairs of Indophil, said that Indophil is in an advantageous position to buy Glencore’s stake in the project should this arrangement materialize because they have the right of first refusal in the possible stake sale. Gavan said that discussions for the possible acquisition of Glencore’s stake would be discussed after the completion of the sale of the Las Bambas mine. Collery said, "The Las Bambas outcome has been a long time in the making and is important for Glencore as it fulfills the conditions set by China and once completed, clears way for Glencore to deal with other greenfield copper assets including its share in Tampakan."

Glencore Xstrata plc Declares Quarterly Dividend and Special Dividend

Glencore Xstrata plc intends to proceed with obtaining the required approvals for the previously announced dividend of 5 cents per share per quarter to be paid from funds on hand. In addition the company will seek the required approvals to pay a special dividend of 10 cents per share from the proceeds of the reverse termination fee. Declaration and the payment of the dividends are subject to stock exchange and bank lender approval. The timing of the declaration and payment of the dividends will be announced by the company in due course.

CITIC Metal Co., Ltd, Glencore Xstrata plc, GUOXIN International Investment Corporation Limited, MMG Limited - M&A Call

To discuss the issue of MMG Limited through a joint venture with a wholly owned subsidiary of Guoxin International Investment Corporation Limited and CITIC Metal Co., Ltd. entered into a share purchase agreement with GlencoreXstrata to acquire the Las Bambas copper project in Peru for USD 5.85 billion

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