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Friday, Oct 11
Reuters: Glencore, Vale in talks over Canadian nickel tie-up
- Glencore (GLCNF.PK) and Vale (VALE) have revived talks over a potential combination of their nickel operations in Canada's Sudbury basin, in an effort to cut costs amid weak prices for the metal, Reuters reports.
- Depending on the details of a potential deal, sources say a tie-up could mean substantial savings for both miners, if all or part of their mining, milling and even smelting operations are brought together.
- Analysts have long said a tie-up would make sense for the two operators, but the tough nickel market, pressure on Vale over nickel difficulties at its Goro nickel-cobalt mine in New Caledonia and elsewhere, may make a deal more likely than in the past.