The worlds biggest mining deal is on the brink of completion as the EU's competition authority conditionaly approved the $US32 billion merger between Glencore International & Xstrata. The alliance between Glencore, principally a trader of commodities, e.g. copper & metals Xstrata e.g. coal, zinc and other metals must obtain clearance from China because it hopes to increase market share there.
The combined company will have a market capitalisation of about $US70 billion and will become the world's largest zinc miner, ferrochrome producer and exporter of thermal coal.
Glencore & Xstrata have vested interests in Zinc/Copper as does BTR. Should prove very interesting once the merger comes to fruition. Another catalyst. Go BTR.
BTR Price at posting:
$1.17 Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)