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The newly forged iron ore-to-copper empire Glencore Xstrata was forced to slash the value of its assets by $8.5bn (£5.4bn) in the first set of results since the merger that created it.

Potash posts stellar results

Potash Corp, the Canadian miner, yesterday delivered a strong set of numbers to bolster its defence against the $39bn hostile takeover tabled by BHP Billiton.

Market Report: BG Group flares higher amid takeover chat

The old rumour mill was grinding yesterday, with further gossip driving up the shares in BG Group. The gas explorer had already risen more than 3 per cent last Wednesday following talk that China National Offshore Oil Corporation (CNOOC) could come in with a £14 per share bid.

Plan to merge iron-ore mining giants is buried

Rio Tinto and BHP Billiton have abandoned plans for a $116bn (£73bn) joint venture merging the two companies' iron ore operations at Pilbara in Western Australia.

BHP and Rio seek way of avoiding break fees as joint venture stumbles

Rio Tinto and BHP Billiton are investigating ways of abandoning their $116bn iron ore joint venture in Western Australia, which is almost certain to be blocked by regulators, without triggering a $250m break clause, according to reports over the weekend.

Germany blocks iron ore joint venture

Germany's Central Cartel Office, which is responsible for ruling on competition cases, hammered a further nail in the coffin of BHP Billiton and Rio Tinto's huge iron ore joint venture yesterday when it announced it would deny approval for the project.

Miners open tax talks in Australia

The mining industry – including a number of London-listed groups – have opened discussions with Australia's new government over Canberra's planned 30 per cent profits tax on the resources industry.

Rio admits 'obstacles' may scupper venture with BHP

The proposed $116bn joint venture between Rio Tinto and BHP Billiton to mine iron ore in Western Australia appeared to be close to collapse last night after minutes of a Rio board meeting, suggesting that the company wanted to back out of the deal, were leaked to an Australian newspaper.

Rockhopper doubles output forecasts of Falklands well

Rockhopper Exploration, one of several companies drilling for oil off the coast of the Falklands Islands, yesterday doubled the production forecasts of a well in the region.

Market Report: Shanks spikes on talk of resurrected Carlyle bid

The rumour mill rumbled on last night, with Shanks rallying by as much as 12 per cent on talk of renewed bid interest from the Carlyle Group.

Rothschild's fund bids for Colombian mining assets

Vallar, the investment vehicle run by Nathaniel Rothschild, submitted a bid for the Colombian assets of US coal group Drummond last week.

Potash holds out hope of rival bids

BHP Billiton will not be the only bidder for PotashCorp of Saskatchewan, the Canadian company said in a letter to shareholders yesterday.

Sinochem lines up tilt at Potash

The Chinese state-owned chemicals giant Sinochem is reported to have approached Singapore state investor Tamasek about a joint bid for PotashCorp, the world's biggest fertiliser group that is subject to a $39bn (£25bn) bid from BHP Billiton.

Return to power within grasp for Australia's Gillard

Australian Prime Minister Julia Gillard came within grasp of a return to power today after one of four "kingmaker" MPs backed her Labor Party's bid to form a minority government following last month's dead-heat elections.

China threatens to launch inquiry into BHP's £26bn PotashCorp bid

Chinese regulators are considering an investigation into BHP Billiton's proposed $40bn (£26bn) takeover of Potash Corporation of Saskatchewan.

Alistair Dawber: Textbook tactics – but they don't always work

Bid. Rejection. Go hostile. For BHP Billiton, and Marius Kloppers, the $38.5bn (£25bn) bid for PotashCorp must feel like Groundhog Day.

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