Editions:  Austria · Denmark · France · Germany · Italy · Norway · Spain · Sweden · Switzerland
Advertisement

Glencore mulls bid for South African mining group

Share this article

10:25 CEST+02:00

Commodities giant Glencore is looking at making a bid for South African mining group Optimum Coal, the Financial Times reported on Friday.

The company is "close to launching a bid for the Johannesburg-listed miner with the support of several South African partners," the newspaper said, citing Glencore executives.  

The mining group posted ion Thursday a 57 percent jump in first half net profit to $2.45 billion, boosted by strong commodities demand and prices.  

It also hinted at potential acquisitions amid the debt crisis in the developed world, with the group's chief executive saying that Glencore was "remaining alert to the potential opportunities that such an environment uncovers in our end markets."  

Earlier this week, the group announced a bid for Australian nickel miner Minara worth $1.07 billion.

Get notified about breaking news on The Local

Share this article

Advertisement

From our sponsors

Learn French in Switzerland: A fully immersive experience

Hiking in the Swiss Alps, visiting local chocolate factories, wine-tastings, jazz festivals and car shows are not part of your typical language course. Unless, that is, it's an Alpadia language course.

Advertisement
Advertisement
Advertisement
Advertisement
Advertisement

Popular articles

Advertisement
Advertisement