By The Associated Press
Tuesday, February 7, 2012
MOTHER LODE: Anglo-Swiss mining group Xstrata PLC announced plans Tuesday to merge with commodities trading giant Glencore International PLC in a deal that will create the world's fourth largest natural resources group.
COMBINED CONTROL: The combined company, to be called Glencore Xstrata, with a market value of $90 billion, will control a chain of businesses from mining to refining, storage and shipping of basic commodities like coal, copper and corn.
KING COAL: The new group will be the world's largest producer of thermal coal, used to fire power plants, as well as a major force in mining and producing copper and other metals.
