Winnipeg Free Press - PRINT EDITION
Posted: 10/12/2013 1:00 AM | Comments: 0
SUDBURY, Ont. -- Glencore Xstrata PLC and Vale SA are in preliminary talks about combining their nickel mine operations in Sudbury, Ont., reports said Friday.
Citing sources, the Globe and Mail and Reuters said the two companies have begun "exploratory" discussions as part of an effort to cut costs.
Vale declined to comment when asked about the report, while Glencore was not immediately available for comment.
Nickel prices, which started the year close to $8 per pound, have fallen to trade around $6 to $6.50 per pound.
Vale, which is based in Brazil, owns the former Inco Ltd. nickel operations in Sudbury that it bought in 2006, while Xstrata holds the former Falconbridge Ltd. operations it acquired the same year.
Vale and Xstrata also held talks regarding a possible merger that were called off in March 2008.
Vale has an operation in Thompson that employs more than 1,000 people.
-- The Canadian Press
Republished from the Winnipeg Free Press print edition October 12, 2013 B11
Have you found an error, or know of something we’ve missed in one of our stories? Please use the form below and let us know.
Having problems with the form?Contact Us Directly
Boxed mattress a sleeper hit
Investigators may have recovered lost IRS emails
Worker in deadly Gulf blast was cleaning equipment
Jury orders Irish man to pay $2M over ethanol deal
Shopping around pays off in long run
Bin Laden son-in-law's lawyer is heading to prison
Be creative this Christmas to avoid credit card debt
Consumer group lists '10 worst toys' for kids
Man gets 18 months for Subway cash register hacks
Puerto Rico legislators to debate oil tax increase
Most actively traded companies on the TSX
Alco Stores to close following bankruptcy order
NEB says propane market better prepared
Apparent settlement reached in National Beef case
How the Dow Jones industrials did on Friday
GameStop and Gap are big market movers
Maine risks losing funding over food stamp policy
Dow, S&P 500 push further into record territory
Credit Suisse guilty plea on US taxes is official
Recalls this week: strollers, candles, chargers
Toyota fined after worker's arm fractured
Dish restores Turner channels to lineup
Judge rules Illinois pension law unconstitutional
Ontario, Quebec team up on climate change
Initial public offerings scheduled to debut next week
Hawaii and Alaska pay more for Thanksgiving feasts
NYC man gets prison for role in cybercrime ring
Desaulniers named AP's New England media director
New York Fed chief on defensive on bank oversight
Malaysia axes fuel subsidies as oil prices drop
Colorado charters credit union for pot industry
Outfitter who maimed prey for clients sentenced
Ford's new F-150 to get 26 mpg, tops among pickups
EPA delays decision on ethanol in gas
Pipeline protesters dig in as survey work begins
US stocks jump after surprise rate cut from China
Serbia to revoke Ukrainian billionaire's passport
Worker charged in glass-in-Big Mac case wins $437K
Teck Resources names 2 new directors