Economics
Glencore Target Xstrata’s Coal Output Up as Mines Resume
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Xstrata Plc, target of a $32.7 billion takeover bid by Glencore International Plc that’s partly driven by growing coal demand, said third-quarter output of the fuel used in power plants rose 6 percent as mines restarted.
Thermal-coal volumes climbed to 21.2 million metric tons from 20 million tons a year earlier, the Zug, Switzerland-based company said today in a statement. Total output, including semi-soft coal, advanced 1.7 percent to 24 million tons.