07 aug: Livigno uden ski…
16 aug: Flytning af pension til Luxembourg – valg af kapitalforvalter og ..
07-08-2012 11:05:00

Xstrata Eyes Cost Savings of $390 Million In 2012

Relateret indhold
Relateret debat
07 maj - 
Marc Rich vil vende sig i graven, hvis hans selskab var..
07 maj - 
Her lidt om historien How Glencore dug itself out of a ..
07 maj - 
Glencore Scraps Planned Sale of $9 Billion Stake in Rus..

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 05:05 ET (09:05 GMT)

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

Opret kommentar

Relateret debat

  • 1 uge
  • 1 måned
  • 1 År
Ingen indlæg

Fondsbørsmeddelelser

Telia er tæt på milliardopkøb af Bonnier Broadcasting - citat

25-05-2018 10:55:43
Telekoncernen Telia rygtes tæt på et opkøb af tv-selskabet Bonnier Broadcasting, der blandt andet ejer TV4, Cmore og den finske udgave af MTV3.Det skriver det svenske branchemedie Resumé, der har sin viden fra "velplacerede kilder". Prisen skulle være på 10-12 mia. svenske kr., hvilket svarer til 7,3-8,7 mia. kr. Telia har de senest år skilt sig af med sine aktiviteter i Asien og har været på jagt..

Aktier/tendens: Positiv stemning ser ud til at løfte danske aktier

25-05-2018 08:10:11
Der er lagt op til en positiv dag, når det danske aktiemarked sætter gang i handlen fredag morgen, hvor Ørsted og Pandora kan komme i fokus efter torsdagens store fald.De amerikanske aktier sluttede torsdagen med små minusser, mens de asiatiske aktieindeks lå med blandede fortegn fredag morgen. De amerikanske futures og den tyske DAX-future ligger til gengæld med stigninger omkring en time før den..

Hartmann Q1: Sætter gang i effektiviseringsprogram for at nå 2018-mål

24-05-2018 14:29:06
Fremgang i emballagesalget og et højere teknologisalg prægede årets første kvartal hos emballageproducenten Brødrene Hartmann, der kom ud af perioden med en stigning i både omsætningen og indtjeningen.I første kvartal omsatte virksomheden for 624 mio. kr. mod 572 mio. kr. i samme periode af 2017, og fremgangen kom, på trods af at valutakurser påvirkede omsætningen i år med 55 mio. kr. Det fremgår ..

Mest læste nyheder

  • 24 timer
  • 48 timer
  • 1 uge

Relaterede aktiekurser

Glencore PLC ORD USD0.01 376,88 0,1% Stigning i aktiekurs

Køb- og salgsanbefalinger

  • Trend
  • Pengemaskinen

Copyright Euroinvestor A/S 2018  Disclaimer  |  Cookie- og privatlivspolitik  |  Persondatapolitik
Aktieinformation leveres af Morningstar.
Data er forsinket 15-20 minutter iht. de enkelte børsers regler om videredistribution.
 
28. maj 2018 03:34:53
(UTC+01:00) Brussels, Copenhagen, Madrid, Paris
Version: LiveBranchBuild_20180525.2 - EUROWEB3 - 2018-05-28 03:34:53 - 2018-05-28 03:34:53 - 1 - Website: OKAY