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Xstrata plc ("Xstrata") notes the announcement made by Anglo American plc ("Anglo American") today. Xstrata confirms that it recently sent a written proposal to the Board of Anglo American seeking their consideration of a merger of equals of the two companies.

A spokesperson for Xstrata expressed the company's expectation of improved copper demand from China in the imminent future at a Latin American investment conference in Sydney on 22nd May. The company expects to see a seasonal uptick in H2 2012 and said that the poor demand in Q1 was in line with its prior expectations. Xstrata intends to invest US$7B in the development of copper deposits over the next three years, increasing its copper output by approximately 60%. This bold move comes at a time when some of the company's rivals, including BHP Billiton and Rio Tinto, are reconsidering their expansion plans over fears of unstable copper demand in the current economic climate.

On 6th August, Xstrata reported H1 profits were down 6.7% versus the same period in 2007. Revenues were 13% higher at $16.092 billion, after record first-half production in coking and semi-soft coal, ferrochrome, refined nickel, platinum, zinc concentrate and lead concentrate. The company expects second-half production to be even stronger, reflected in their decision to raise the interim dividend by 13% to 18c. per share. Xstrata remains bullish over demand prospects in China, with ongoing infrastructure development and urbanisation underpinning growth, adding "the Group is well positioned to enjoy margin expansion and improved profitability from the second half of 2008 and into 2009".

LONDON, July 30 (Reuters) - Mining group Xstrata posted a 1.1 percent fall in first-half mined copper output and a 6.1 percent fall in mined nickel production on Wednesday.

Suspected Communist rebels attacked Xstrata Plc's $3 billion Tampakan mine in the Philippines, which may be Southeast Asia's largest untapped copper deposit, according to the military and project partner Indophil Resources NL. The group burned a drill rig and police are investigating, the Melbourne-based company said today in a statement to the Australian stock exchange. No one was injured in the assault, which took place around midnight on July 20, according to the statement, which did not identify the attackers. The rebels, probably from the New People's Army, ``tried to extort money from the owners of the mine, but they declined to pay the so-called revolutionary tax,'' Armand Rico, a military spokesman, said today by phone from Davao City. Insurgent attacks may undermine the Philippines' drive to develop the nation's mining industry to exploit gold, copper and nickel. Indophil, which also reported an attack on Jan. 1, is the subject of takeover bids from Xstrata Plc, which owns 62.5 percent of the mine, and a rival management group.

LONDON (MarketWatch) -- Lonmin shares surged on Wednesday after Swiss rival Xstrata launched an unsolicited $10 billion takeover bid for the platinum producer, with the move sparking gains across the entire London-listed mining sector. Lonmin (UK:LMI: news, chart, profile) shares traded 46.9% higher at 34.06 pounds, above the 33 pounds a share that Xstrata said it's prepared to pay to take control of the platinum producer in order to boost its own production of the metal.

Mining group Xstrata on Friday bought a 17.83 per cent stake in Indophil Resources for A$82m, potentially blocking a management buy-out of the Australian copper miner.

Mining group Xstrata posted a 8 percent fall in third quarter mined copper output on Tuesday and a 12 percent rise in coal production.

April 1 (Bloomberg) -- Xstrata Plc, the world's fourth- largest copper miner, said it may buy other producers after a "collapse" in equities slashed the cost of potential targets.

"It's obviously had an impact on our projects, but we have the advantage of having the majority of the projects in the evaluation phase so we can put them off for the following years," Xstrata Copper CEO Charlie Sartain said. However, Xstrata's copper unit still has a number of projects coming on line this year or expanding output, which will help to solidify the company's role as the world's fourth-largest copper producer, he said.