Glencore Xstrata, Vale mull merger of Canadian nickel operations
Commodities giants Glencore Xstrata and Vale (NYSE: VALE, Stock Forum) have revived talks over a potential combination of the mining groups’ nickel operations in Canada’s Sudbury basin, in an effort to cut costs as prices for the metal languish, sources familiar with the situation have told Reuters news service.
According to Reuters, the discussions are still at an early stage, but have revived hopes of a long-debated Sudbury tie-up, with the companies considering a number of options for their mining and processing operations in the area, the sources said.
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