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Xstrata
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Xstrata
Xstrata plc was an Anglo-Swiss multinational mining company headquartered in Zug, Switzerland and with its registered office in London, United Kingdom. It was a major producer of coal (and the world's largest exporter of thermal coal), copper, nickel, primary vanadium and zinc and the world's largest producer of ferrochrome. It had operations in 19 countries across Africa, Asia, Australasia, Europe, North America and South America.
Xstrata had a primary listing on the London Stock Exchange and was a constituent of the FTSE 100 Index. It had a market capitalisation of approximately £29 billion as of 23 December 2011, making it the 16th-largest company on the London Stock Exchange. It had a secondary listing on the SIX Swiss Exchange. In the 2013 Forbes Global 2000, Xstrata was ranked as the 202nd largest public company in the world.
On 2 May 2013 Xstrata was acquired by Glencore. Glencore later retired the Xstrata brand, and the company name changed from Glencore Xstrata plc to Glencore plc.
The Xstrata name survives in the Mexican foreign capital company Xstrata Mexico.
The company was founded in 1926 in Switzerland as Südelektra, an infrastructure and electricity projects concern operating in Latin America.
In 1990, Marc Rich + Co AG became its majority shareholder. In the 1990s it diversified into mining and disposed of its non-core businesses.
Mick Davis was appointed CEO of Xstrata in 2001, and it was first listed on the London Stock Exchange in 2002 at which time it acquired Glencore's coal assets in Australia and South Africa. Glencore controlled 40% of Xstrata stock in 2001.
In 2003, Xstrata doubled in size with the A$2.9 billion takeover of Australian copper, zinc and lead miner MIM Holdings. However, it failed in a 2005 bid for another Australian miner, WMC Resources, which was captured by BHP, the world's biggest mining company.
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Xstrata
Xstrata plc was an Anglo-Swiss multinational mining company headquartered in Zug, Switzerland and with its registered office in London, United Kingdom. It was a major producer of coal (and the world's largest exporter of thermal coal), copper, nickel, primary vanadium and zinc and the world's largest producer of ferrochrome. It had operations in 19 countries across Africa, Asia, Australasia, Europe, North America and South America.
Xstrata had a primary listing on the London Stock Exchange and was a constituent of the FTSE 100 Index. It had a market capitalisation of approximately £29 billion as of 23 December 2011, making it the 16th-largest company on the London Stock Exchange. It had a secondary listing on the SIX Swiss Exchange. In the 2013 Forbes Global 2000, Xstrata was ranked as the 202nd largest public company in the world.
On 2 May 2013 Xstrata was acquired by Glencore. Glencore later retired the Xstrata brand, and the company name changed from Glencore Xstrata plc to Glencore plc.
The Xstrata name survives in the Mexican foreign capital company Xstrata Mexico.
The company was founded in 1926 in Switzerland as Südelektra, an infrastructure and electricity projects concern operating in Latin America.
In 1990, Marc Rich + Co AG became its majority shareholder. In the 1990s it diversified into mining and disposed of its non-core businesses.
Mick Davis was appointed CEO of Xstrata in 2001, and it was first listed on the London Stock Exchange in 2002 at which time it acquired Glencore's coal assets in Australia and South Africa. Glencore controlled 40% of Xstrata stock in 2001.
In 2003, Xstrata doubled in size with the A$2.9 billion takeover of Australian copper, zinc and lead miner MIM Holdings. However, it failed in a 2005 bid for another Australian miner, WMC Resources, which was captured by BHP, the world's biggest mining company.
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