Trading and mining giant Glencore has reportedly welcomed news that China’s antitrust officials have cleared the company from its last hurdle in efforts to acquire mining company Xstrata for $30 billion. The approval was granted after Glencore agreed to divest a mining project worth $5.2 billion in Peru to ease competition concerns within the copper market. Authorities will require the company to find a buyer by the end of August 2014. Together, Glencore and Xstrata control about 7 percent of the world’s copper supplies.
Full Content: Chicago Tribune
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