07 aug: Livigno uden ski…
16 aug: Flytning af pension til Luxembourg – valg af kapitalforvalter og ..
07-08-2012 10:42:00

Xstrata CEO Eyes Net Real Cost Savings of $390 Million In 2012

Relateret indhold

By Alex MacDonald

LONDON--Anglo-Swiss miner Xstrata PLC (XTA.LN) expects to deliver net real cost savings of around $390 million in 2012 as a mix of higher output levels, lower input costs and greater efficiencies help offset higher costs from lower ore grades and a transition period from old to new mines, the company's chief executive said Tuesday.

Xstrata expects to reduce costs by around $970 million in 2012, Mick Davis told Dow Jones Newswires in a call. About 40% of that will come from increased throughput and productivity, about 30% from more efficient processing and better procurement methods, 17% from lower input costs and the balance from improved energy efficiency.

The savings are partly offset by $580 million of cost headwinds that stem from grade degradation and the transitional nature of the business, Mr. Davis said. Xstrata has faced lower copper grades as it transitions from older mines to newer mines.

"A lot of that [$580 million], a significant part of that is actually found in the first half [of the year] as a result of the transitioning and we have less of that in the second half," he said.

Mr. Davis declined to comment on how shareholders might vote in upcoming Sept. 7 vote on the merger of equals with Glencore International PLC (XTA.LN). Xstrata's second largest shareholder, the sovereign wealth fund Qatar Holding LLC, has called on Glencore to sweeten its offer to 3.25 Glencore shares for every Xstrata share, up from 2.8 at the moment.

"It is now really up to the shareholders to decide whether they want the merger to go ahead on these terms or if they prefer Xstrata to continue as a standalone company," Mr. Davis said, noting that Xstrata had "negotiated a deal in the universe of what was possible at the time. We negotiated a ratio which I said at the time was fair to both companies."

He said that either way, Xstrata is incredibly well positioned to be a major contributor to the combined entity or alternatively have real capacity to add value to shareholders if they decide for it to stand on its own.

Write to Alex MacDonald at alex.macdonald@dowjones.com

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

(END) Dow Jones Newswires

August 07, 2012 04:42 ET (08:42 GMT)

Copyright (c) 2012 Dow Jones & Company, Inc.

Opret kommentar

Relateret debat

  • 1 uge
  • 1 måned
  • 1 År
Ingen indlæg

Fondsbørsmeddelelser

Novo/Exane: Sænker anbefaling til "neutral" fra "outperform"

26-09-2017 06:34:01
Novo Nordisk har fået sænket anbefalingen hos finanshuset Exane til "neutral" fra tidligere "outperform, skriver Bloomberg News.Kursmålet er i samme ombæring justeret til 300 kr. fra 290 kr. Det er 2,8 pct. lavere end mandagens lukkeniveau, hvor Novo-aktien endte i 308,60 kr. efter en stigning på 0,9 pct., mens det er 0,9 pct. under analytikernes konsensusgennemsnit på 302,77 kr.Inden ændringen an..

Pandora: Amerikansk investeringsselskab øger igen short-position

25-09-2017 15:17:33
Endnu engang har det amerikanske investeringsselskab AQR Capital Managment øget sin andel af såkaldte "shortede" aktier i smykkeselskabet Pandora.Det fremgår af en indberetning til Finanstilsynet.AQR Capital Managment har nu en shortposition i Pandora på 2,1 pct., hvor investeringsselskabet tidligere kun ejede 2 pct. af den samlede udstedte aktiekapital i selskabet.Mandag eftermiddag stiger Pandor..

NKT/Jyske: Triton Knoll-ordre vil give god sigtbarhed i Köln i 2019

25-09-2017 14:25:53
NKT er i favoritposition til at løbe med kabelkontrakten til det britiske havvindmølleprojekt Triton Knoll, efter at udviklerne bag, et joint venture mellem Innogy og Statkraft, har valgt den danske leverandør som den foretrukne.Kommer der i løbet af 2018 som ventet en fast og ubetinget aftale ud af det, så vil det sammen med en eventuel ordre på Borssele beta sikre NKT en god kapacitetsudnyttelse..

Mest læste nyheder

  • 24 timer
  • 48 timer
  • 1 uge
1
Bavarian Nordic-aktien slikker sårene efter kæmpe tab - citat
2
Pandora: Amerikansk investeringsselskab øger igen short-position
3
Mærsk/ABM: 4 mia. dollar for Mærsk Drilling er i den lave ende - ny
4
Aktier/middag: Nets rider på købsbølgen i let positivt marked
5
Nye Nets-ejere vil starte massive opkøb

Relaterede aktiekurser

Glencore PLC ORD USD0.01 348,20 1,2% Stigning i aktiekurs

Køb- og salgsanbefalinger

  • Trend
  • Pengemaskinen

Copyright Euroinvestor A/S 2017  Disclaimer Privatlivspolitik
Aktieinformation leveres af Morningstar.
Data er forsinket 15-20 minutter iht. de enkelte børsers regler om videredistribution.
 
26. september 2017 11:00:37
(UTC+01:00) Brussels, Copenhagen, Madrid, Paris
Version: LiveBranchBuild_20170925.1 - EUROWEB4 - 2017-09-26 11:00:37 - 2017-09-26 11:00:37 - 1 - Website: OKAY