07 aug: Pandora/CEO: Vi skal have en kulturændring
07 aug: Obligationer/middag: Stort set uændret på nøgletalsfattig dag
07-08-2012 11:05:00

Xstrata Eyes Cost Savings of $390 Million In 2012

Relateret indhold

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

DSV/Nykredit: Kursmål bliver hævet med 8 pct. før regnskab

28-04-2017 14:21:41
Nykredit hæver kursmålet for DSV-aktien til 400 kr. fra 370 kr. forud for transportkoncernens regnskab i næste uge.Banken vurderer, at DSV står stærkt på markedet og kan begynde at fokusere på organisk vækst, efter at det seneste år primært er gået med at integrere amerikanske UTI Worldwide, der blev købt sidste år for 9,5 mia. kr.- Vi har hævet vores estimater for de kommende år. Derudover har vi..

Novo/Nordea: Sanofi-regnskab indikerer lyspunkt på vækstmarkeder

28-04-2017 11:31:07
Kvartalsregnskabet fra Novo Nordisks store franske rival, Sanofi, vidner om, at diabetesforretningen har haft en en stærk udvikling på vækstmarkederne, mens salget er under pres i USA.Og det er en tendens, som Nordea regner med også kan slå igennem i Novos regnskabstal på onsdag. Det fremgår af et notat.Nordea understreger dog, at det langt fra er ligetil at drage paralleller fra Sanofis regnskab...

Novo-rival slår overskuds- og salgsforventninger i første kvartal - NY

28-04-2017 08:06:11
Den franske medicinalvirksomhed Sanofi, der er blandt Novo Nordisks største konkurrenter, er kommet ud af årets første tre måneder med en bedre indtjening end ventet.I første kvartal endte det justerede overskud per aktie (Business EPS, red.) på 1,42 euro, hvilket var højere end de 1,26 euro, som analytikerne ifølge Bloomberg News havde sat næsen op efter.Den samlede omsætning steg til 8,65 mia. e..

Mest læste nyheder

  • 24 timer
  • 48 timer
  • 1 uge

Relaterede aktiekurser

Glencore PLC ORD USD0.01 304,68 1,7% Stigning i aktiekurs

Køb- og salgsanbefalinger

  • Trend
  • Pengemaskinen

Copyright Euroinvestor A/S 2017  Disclaimer Privatlivspolitik
Aktieinformation leveres af Interactive Data.
Data er forsinket 15-20 minutter iht. de enkelte børsers regler om videredistribution.
 
30. april 2017 18:39:31
(UTC+01:00) Brussels, Copenhagen, Madrid, Paris
Version: ReleaseCandidateBuild_20170427.1 - EUROWEB2 - 2017-04-30 18:39:31 - 2017-04-30 18:39:31 - 1 - Website: OKAY

Når du besøger Euroinvestor.dk accepterer du, at der anvendes cookies, som vi og vores samarbejdspartnere benytter til funktionalitet, statistik og markedsføring. Læs mere om cookies på Euroinvestor.dk her

x