Xstrata Logo – Xstrata plc is a global mining company with world headquarters in Zug, Switzerland and with its registered office in London, United Kingdom. Is one of the largest producers of coal (and the world’s largest exporter of thermal coal), copper, nickel, vanadium primary and zinc and the world’s largest producer of ferrochrome. Operates in 19 countries to over Africa, Asia, Australasia, Europe, North America and South America.
Mainly is listed on the London Stock Exchange and is part of the index FTSE 100. It has a second listing on the SIX Swiss Exchange. Its largest shareholder, with a stake of around 34%, is Glencore International AG.
The company was founded in 1926 in Switzerland as Südelektra, involved in infrastructure and electricity projects in Latin America. In 1990, Marc Rich + Co AG became the largest shareholder. In the 1990s it diversified into the field of mining and eliminated non-core sectors. It was first listed on the London Stock Exchange in 2002 while assets acquired in the coal industry of Glencore in Australia and South Africa.
In 2003, doubled its size with the acquisition of producer Australian mining of copper, zinc and lead MIM Holdings in a transaction of A $ 2,900 million. However, in 2005 failed in its attempt to acquire WMC Resources, another producer Australian mining, which was acquired by BHP Billiton, the largest mining company in the world. In 2004 Xstrata closed the Windimurra Vanadium newly acquired company in Western Australia which had the effect of increasing prices of other plants producing Vanadium Company. Many hundreds of workers were laid off and now many Western Australians are unwilling to return to see Xstrata in other mining operations in the state because of this fact.
In August 2005, Xstrata acquired a 19.9% stake in Falconbridge Limited, a diversified mining company in the production of copper, nickel, aluminum, lead and zinc. After a business dispute with rival Inco Limited, Xstrata acquired the remaining 80.1% of Falconbridge in August 2006. In 2006, the Northern Territory and Australian Governments respective approved the expansion of the zinc mine McArthur River, near the popular fishing destination Borrooloola. Expansion requires the diversion of the river into a channel of 5.5 km long, to allow the opening of an open pit mining in the existing river. In reference to the traditional owners of the region’s peoples Yanyuwa, Mara, Gurdanji-Garrawa and the Earth Council North launched a legal challenge to the decision of the government of the Northern Territory to approve the opening of the mine and the McArthur River diversion. On May 1, 2007, the Superior Court of the Northern Territory Council ruled in favor of the North earth to stop the expansion. On May 3, 2007, the government of the Northern Territory produced a retrospective legislation to overturn the court’s decision and allow the opening of the open pit mine.