Xstrata News

Two partners in port project have entered administration means that port charges are now higher for other backers. Glencore and five other miners backing the world's most expensive coal port in Australia face extra annual charges of A$150 million after the restructuring of one of their partners this month, the latest to buckle under slumping commodity prices. The additional charge will deal a blow to the remaining backers of the A$2.6 billion ($2 billion) Wiggins Island Coal Export Terminal (WICET) in east Australia at a time when they are grappling with floundering coal markets. Mining and trading giant Glencore and seven partners began negotiations to build WICET in 2008 near the height of a coal boom…

Glencore approached Rio Tinto about a merger in July. A tie-up would have created the world's biggest miner. No further talks with Glencore after rejecting bid-Rio. Rio Tinto rejected a merger approach from smaller rival Glencore Plc to create a $160 billion mining and trading giant in August just as the price of its most profitable product, iron ore, slid toward a five-year low. The miner said on Tuesday Glencore had contacted it about a potential merger in July, adding that it turned Glencore down in August and there had been no further contact between the companies on a deal. A merger would have created the world's biggest miner, supplanting BHP Billiton.

Chile's Supreme Court on Thursday rejected an application for an environmental organization against Crow River hydroelectric project, which plans to build in the south of the country with an initial investment of $ 733 million . In a unanimous ruling, the Third Chamber of the Supreme Court upheld an earlier judgment of the Court of Appeals of the Coyhaique region, in September last year dismissed an appeal against the Environmental Evaluation Service that area of ​​the country. The statement argued that the application for protection of the NGO Environmental Prosecutor Corporation is not the way to challenge the administrative decision of 640 generating project in Patagonia megavativos leading and Origin Energy Xstrata and Glencore through Southern Energy.

Canadian grain marketer CWB said on Monday it has agreed to buy Great Sandhills Terminal Ltd, a farmer-owned 20,000-tonne grain handling facility in Leader, Saskatchewan, for $16.3 million. The deal, subject to regulatory and shareholder approvals, is expected to close by Sept. 1. It also includes a majority stake in a short-line railway in Saskatchewan. CWB did not release further financial details. CWB, which was previously known as the Canadian Wheat Board, has made several deals to piece together a grain-handling network in the past year as it moves toward operating outside of government control. Ottawa stripped the board of its western wheat and barley marketing monopoly in 2012 and agreed to guarantee CWB's borrowings until it is sold or develops a plan to be self-sustaining by 2016.

Oil explorer Gulf Keystone on Thursday denied a media report that its board and investors planned to call for the resignation of founder and Chief Executive Todd Kozel within months. British broadcaster Sky News reported that several Gulf Keystone directors had held talks this week about Kozel's departure, prompted by a series of rows over executive pay and shareholder returns. Gulf Keystone spokesman Terence Franklin denied the report and told Reuters there was no substance to these "rumours". Franklin confirmed the meetings but said he did not know what had been discussed. Sky, citing sources, said some board members wanted an announcement about a succession plan before the company's annual meeting, typically held in July.

Oil and gas—and also mining—are the drivers today propelling Arctic maritime operations and the construction of new vessels able to operate in extreme latitudes. While the gas and oil resources can be recovered in the Arctic or far north and shipped to markets by sea or pipeline, the cost of doing must be balanced upon the global market price for those commodities. Ships and marine structures able to operate in the harsh conditions of the extreme latitudes require special designs and construction techniques.

Three Canadian grain handlers said this week that they will expand facilities to handle the country's crops, after a record-smashing harvest overwhelmed the transportation system. Viterra, owned by Glencore Xstrata PLC, said on Thursday it will spend C$100 million ($92 million) to boost grain shipping through Port Metro Vancouver, while CWB, formerly known as the Canadian Wheat Board, said it is building a second Western Canadian grain elevator. Global commodities trader Cargill Ltd said on Wednesday that it would expand an elevator site in Manitoba. The moves come as the country's grain handlers and railways have struggled to move a record harvest to port, causing a massive backlog.

Claire Divver has been appointed as BAE Group Communications Director. She will join the group early in the new year and will be a member of the BAE Systems Executive Committee, reporting to Chief Executive Ian King. Claire was formerly General Manager, Group Corporate Affairs for Xstrata plc where she was responsible for the global communications of the multinational diversified mining group. She joined Xstrata in 2004 and was also a Board member of Xstrata Nickel, one of Xstrata’s five global commodity business units.

Dockwise Ltd. has been selected as the contractor of choice for the transport of 15 onshore modules for the Koniambo Nickel Project in New Caledonia. The project is being developed by Koniambo Nickel SAS, a joint venture between Société Minière du Sud Pacifique (SMSP), and Xstrata Nickel. The Koniambo Project includes the construction of a metallurgical facility in the northern part of New Caledonia in the South Pacific. Major project facilities include the mine, the process plant…

Dockwise Ltd. has been awarded to their subsidiary Dockwise Shipping for the transportation from China to New Caledonia of 18 onshore modules including an extended engineering and associated services scope. The contract was awarded by Hatch-Technip on behalf of Koniambo Nickel SAS, a joint venture owned by Xstrata Nickel and Société Minière du Sud Pacifique (SMSP). Hatch-Technip, based in Kuala Lumpur, Malaysia, has been appointed as main contractor. The transportation of the modules is scheduled for late 2009, early 2010 and will be performed as multiple consecutive voyages by the new Dockwise T-class vessels. The modules fabricated in China, will be loaded at the yard of CNOOC's construction company COOEC at Qingdao, China. The modules will be offloaded in Vavouto, New Caledonia.