Petro and Duque meet over transition of power...
Colombia confronts former FARC chiefs with suffering kidnapping...
Colombia hears former guerrilla chiefs over mass kidnappings
Petro’s quest for a majority in Colombia’s Congress
Colombia’s ELN guerrillas reiterate call to resume peace...
Colombia begins transition of power after elections
The peaceful revolution of Colombia’s “nobodies”
Historic victory for Gustavo Petro in Colombia’s elections
Colombia’s election observers say voters received tainted ballots
Colombia elects new president amid fears of violence
  • About
  • Support
  • Newsletter
  • Contact
Colombia News | Colombia Reports
  • News
    • General
    • Analysis
    • War and peace
    • Elections
    • Economy
    • Culture
    • Sports
    • Science and Tech
  • Travel
    • General
    • Bogota
    • Medellin
    • Cali
    • Cartagena
    • Antioquia
    • Caribbean
    • Pacific
    • Coffee region
    • Amazon
    • Southwest Colombia
    • Northeast Colombia
    • Central Colombia
  • Data
    • Economy
    • Crime and security
    • War and peace
    • Development
    • Cities
    • Regions
    • Provinces
  • Profiles
    • Organized crime
    • Politics
    • Armed conflict
    • Economy
    • Sports
  • Lite
  • Opinion
Economy

Xstrata near to buying Colombian coal miner: report

by Newswires January 9, 2011

Colombia news - Xtrata

London-listed miner Xstrata is close to winning the $8 billion auction for Colombia’s second-biggest coal miner, British newspaper The Sunday Times said, without citing sources.

The newspaper said Xstrata was the only suitor to table a fully-financed offer for the business, which is being sold by family-owned U.S. group Drummond, by last month’s deadline.

Bank of America-Merrill Lynch, which is running the auction, extended the timeframe to allow other bidders including London-listed Vedanta Resources and India’s Essar Global more time to arrange financing, the paper said.

However, they have struggled to do so, putting Xstrata in pole position to secure a deal, it added.

Xstrata declined to comment.

Brazil’s Vale, Glencore International and mining investment vehicle Vallar also previously showed interest in Drummond’s Colombian operations, sources familiar with the matter have said.

Drummondeconomymining

Trending

  • Last polls before Colombia’s election contradict each other

  • Colombia’s police announce mass arrests ahead of elections

  • Colombia’s first lady, slush funds and organized crime

Related articles

  • Gross domestic product

  • Labor and unemployment

  • Scholars’ drastic solutions for Colombia | Part 1: renegotiating free trade

  • RSS

@2008-2019 - Colombia Reports. All Rights Reserved.
Powered by Digitale Zaken and Parrolabs


Back To Top