Xstrata
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Xstrata plc is an international mining company, listed on both the London Stock Exchange and the Zürich Stock Exchange. Its headquarters are in Zug in Switzerland and it is a member of the FTSE 100 Index. It has operations/projects in eight countries (Australia, Argentina, Colombia, Germany, Peru, South Africa, Spain and the United Kingdom) and it is a major producer of copper, coking coal, thermal coal, ferrochrome, vanadium and zinc. It has smaller scale involvement in gold, lead and silver.
Xstrata reports its results in U.S. Dollars. Turnover for the year to 31 December 2005 was $8,049.8 million. Profit before tax was $2,461.9 million and attributable profit (ie after tax and minority interests) was $1,706.4 million. Xstrata has grown from a market capitalisation of just over US$2 billion, at its listing in March 2002, to around US$30 billion in May 2006. Its largest shareholder (with a 14% shareholding) is Glencore International AG ([Glencore website]).
In 2003, it doubled in size with the A$4.9 billion takeover of Australian copper, zinc and coal miner MIM Holdings. But it failed in a 2005 bid for another Australian miner, WMC Resources, which was captured by BHP Billiton, the world's biggest mining company. In August 2005, Xstrata purchased a 19.9% stake in Falconbridge Limited, a diversified Canadian mining company producing copper, nickel, aluminum and zinc.
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