The Conversation (0)
The Financial Post reported the pending Glencore (LSE:GLEN) and Xstrata (LSE:XTA) isn’t a huge change some investors claim, rather it’s the next logical step for the long-time partners.
The Financial Post reported the pending Glencore (LSE:GLEN) and Xstrata (LSE:XTA) isn’t a huge change some investors claim, rather it’s the next logical step for the long-time partners.
As quoted in the market news:
Xstrata’s official position is that Glencore markets around a third of its product but that general assessment masks very different pre-nuptial relations in different product lines.
At one end of the scale Glencore enjoys merely a “market advisory role” in Xstrata’s coal business. At the other end of the scale, it is already sole distributor of Xstrata’s nickel, cobalt and ferronickel production.
The full spectrum of connectivity is detailed in both companies’ accounts, the most recent of which cover the year 2010.