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
16 killed in China coal mine collapse
U.K. firm to design this year's pop-up eatery
Regulators close small Illinois bank
Academic brings forceful pro-GMO argument to city
Capital Power post $45M net loss in Q3
Income splitting reduces tax burden
News outlets seek access in football hazing case
Border and water issues top agenda of new U.S. consul to Manitoba
Shipping company pleads guilty in molasses spill
Mixed reviews on Facebook CEO's Mandarin
Most actively traded companies on the TSX
FCC: Phone companies posted private info online
Questions, answers about Takata air bag recalls
Manufacturer halts sales of highway guardrails
Cliffs Natural Resources out of Wabush Mine
Google exec sets records with leap from near-space
Stock market's big seesaw gives investors pause
Greeks get 8 years to clear austerity tax bill
US rig count up 9 to 1,927
Hacker gets prison for cyberattack stealing $9.4M
US Chamber on sidelines in close Georgia race
China, 20 other countries initiate new Asian bank
Venezuelans brace for slump in oil prices
Judge halts New Jersey's sports betting plan
France OKs extradition of dissident Kazakh banker
Italian court acquits Dolce&Gabbana in tax case
US halal food supplier indicted over beef exports
S&P upgrades Cyprus on commitment to bailout deal
U.S. fund discloses 5.7 per cent Agrium stake
Initial public offerings scheduled to debut next week
'Growler bars' for draft beer now in Manitoba
More earnings gains send US stocks higher
Space for rent: Postmedia hunts for ads
Grain mixed, livestock mostly higher
US new-home sales close to flat in September
Spain challenges Canary Island poll on oil plans
Evenflo recalls infant seats to fix sticky buckles
Chiquita holders reject plans to merge with Fyffes
Workers at Goldcorp operation ratify contract