Xstrata
 |
|
| Public limited company | |
| Industry | Metals and Mining |
| Fate | Merged with Glencore plc |
| Founded | 1926 |
| Headquarters |
Zug, Switzerland (Head office) London, United Kingdom (Registered office) |
|
Key people
|
Sir John Bond (Chairman) Mick Davis (CEO) |
| Products | Copper, Zinc/Lead, Coal, Nickel, Alloys |
| Revenue | $31.618 billion (2012) |
| $4.790 billion (2012) | |
| Profit | $1.180 billion (2012) |
|
Number of employees
|
70,000 (2013) |
| Website | www.xstrata.com |
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 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.
On 2 May 2013 ownership of Xstrata was fully acquired by Glencore. Glencore has also announced that they will no longer use the 'Xstrata' brand and it will be phased out. Glencore Xstrata plc is now Glencore plc.
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.
It was first listed on the in 2002 at which time it acquired Glencore's coal assets in Australia and South Africa.
In 2003, it 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 Billiton, the world's biggest mining company.
In 2004 Xstrata closed its recently purchased Windimurra Vanadium plant in Western Australia which had the effect of increasing Vanadium prices received for Xstrata's other Vanadium mines around the world. Many hundreds of people were put out of work and now many Western Australians are not keen to see Xstrata involved in other mining activities in the state because of this action.
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Wikipedia