Glencore Coal Output Doubles After South African Mine Purchases
Stock Chart for Glencore Xstrata PLC (GLEN)
Glencore International Plc, the world’s largest publicly traded commodities supplier, said 2012 coal production more than doubled after the acquisition of new operations in South Africa.
Output of the fuel used in power stations rose to 41.8 million metric tons from 20.5 million tons, the Baar, Switzerland-based company said today in a statement. Copper output rose 3.9 percent to 376,700 tons.
Glencore is seeking to complete a $36 billion takeover of Xstrata Plc next month, adding coal, zinc, copper and nickel assets to create the world’s fourth-biggest mining company. The combined entity will have interests in about 35 coal mines in Colombia, Africa and Australia, and account for about 10 percent of global seaborne exports.
Cobalt production gained 1.6 percent to 13,090 tons, Glencore said. Zinc production was 534,400 tons.
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