Xstrata's profit increases, helped by takeovers

Article Abstract:

Full-year 2007 net profit for Swiss mining firm Xstrata PLC increased by 13% to $5.54 bil, boosted by acquisitions that include Canada's Falconbridge Ltd. and Eland Platinum Holdings Ltd. Revenue increased 12% to reach $28.54 bil. Talks continue with Brazilian firm Companhia Vale do Rio Doce S.A.

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Brazil's CVRD considers acquisition of Eramet

Article Abstract:

Companhia Vale do Rio Doce S.A. of Brazil is considering the acquisition of Eramet S.A. of France. The Brazilian iron ore producer is diversifying and is betting that increased demand for commodities from China will keep pushing up longterm metal prices.

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Teck drops plan to raise Inco bid leaving CVRD as likely buyer

Article Abstract:

Teck Cominco Ltd. of Canada is not to proceed with an increased acquisition bid of 20.03 billion Canadian Dollars ($17.83 billion) for Inco Ltd. also of Canada. The metals industrial acquisition would then go to Companhia Vale do Rio Doce S.A. of Brazil.

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