Work hard and you will find success

Eduard Utkin, Director General of the “Jewellers’ Guild of Russia” Association, expert of the RF Chamber of Commerce and Industry’s Committee on Precious Metals and Precious Stones, told R&P about implementing the SIIS PMPS (State Integrated Information...

Yesterday

GOLDNET.MARKET - “We want and are working to provide business with the opportunity to develop a lot of activity areas”

Today, almost all jewellery companies have their own wholesale websites, online stores, and social media pages. But a year ago, GOLDNET.MARKET, the first jewellery wholesale marketplace appeared in Russia, a new effective tool for the jewellery market...

20 september 2021

Platinum’s rare nature gives it additional value and appeal

Huw Daniel is the CEO of Platinum Guild International, overseeing market development activities in China, Japan, India and the USA, on behalf of the platinum producers of South Africa. Before taking up this role in 2015, Huw ran PGI USA for 12 years...

13 september 2021

Marco Carniello: We want to continue to be the engine boosting the jewellery industry

Italian Exhibition Group (IEG) is a leader in Italy in the organisation of trade fairs and one of the main operators in the trade fair and conference sector at European level, with structures in Rimini and Vicenza, as well as further sites in...

06 september 2021

There is a significant need for smart and technological financial solutions in the diamond industry

MDPS, the Israeli start-up Fintech company from the Mazalit Group is gearing up to enter the diamond industry soon. Zeev Maimon, the CEO of MDPS is also the Founder / CEO of MAZALIT, a B2B payment platform designed and dedicated to the global diamond...

30 august 2021

Anglo Rejects Xstrata Offer

23 june 2009

The board of Anglo American unanimously rejected Xstrata's merger offer, worth some $68 billion, on the grounds the merger is not in the company's best interest and even if it was, "the terms proposed by Xstrata were totally unacceptable", RAPAPORT reported. The board has therefore concluded that the strategic case for the combination is unattractive for Anglo American shareholders," the company said in a statement Monday, responding to an offer launched June 21.
The company added that such a merger would dilute its exposure to platinum, iron ore and diamond assets, which offsets the benefit of more exposure to nickel and zinc production. If a deal were to occur despite the board's rejection, Xstrata could stand to gain considerably more than Anglo American, according to Juan Carlos Guajardo, director of Chile's copper and mining research center Cesco.
"Xstrata would obtain a considerably larger level of diversification than Anglo American, which already has a wide range of geographically diverse assets in its portfolio," Guajardo said via email. Both companies are also at different stages of their development: Xstrata in search of more immediate growth while Anglo American has its eye more cautiously fixed on the long term, he added.
However, both companies have similar levels of debt, which might benefit them given the current financial perspective, Guajardo said.
A merger would create a group with a combined market cap of some $68 billion, based upon closing share prices June 19. That compares with market cap of more than $140 billion of the world's largest miner BHP Billiton.