Glencore shifts $30b in assets to Australia in major restructure

Glencore shifts $30b in assets to Australia in major restructure

The move prepares the way for the commodities giant to strike a future mega-merger by placing unattractive South African assets and coal mines in one vehicle.

Glencore, led by Gary Nagle, moves $30 billion asset base to Australia in restructure

Key PointsGlencore shifts $30 billion in mining assets to Australia, doubling its local asset base to $65 billion, streamlining for potential mega-merger under CEO Gary Nagle. Restructure consolidates coal, South African mines, enhancing appeal amid ESG pressures; Australian markets favor coal assets more than London. Move follows aborted Rio Tinto merger, includes $3.8 billion cash transfers; signals strategic consolidation amid global mining s…

Glencore integrates Canadian mines into Australian-led coal division

Glencore has consolidated its coal business, integrating its newly acquired Canadian mines into a single unit managed from Australia.The post Glencore integrates Canadian mines into Australian-led coal division appeared first on Mining Technology.

MAC shares surge after $1.6bn acquisition - Australian Resources & Investment

The CSA copper mine near Cobar, NSW. Image: MAC CopperMAC Copper’s shares have surged more than 20 per cent over the past five days after announcement of a $US1.03 billion ($1.6 billion) acquisition by Harmony Gold. Under a binding scheme implementation deed, MAC shareholders will receive $US12.25 per share – a 32.1 per cent premium to MAC’s 30-day volume weighted average price (VWAP) of $US9.28 and a 20.7 per cent premium to MAC’s closing share…