Wednesday, January 12, 2011

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Santurbán buy Swiss miner Xstrata's assets in Colombia

Bogotá. Offering of U.S. $ 8,000 million, the miner Xstrata could become the owner of Drummond in Colombia, that after passing the proposals of Australia's Rio Tinto and Brazil's Vale.

According to newspaper The Australian and The Sunday Times, coal producer in the country would have accepted the offer of the Swiss firm, among other reasons, being the only one who offered to acquire resources own.

Bank of America-Merrill Lynch, conducting the auction, extended the deadline to allow other competitors to enter a bid, however, only Xstrata was in the lead, leaving the way open for purchase to Drummond, which now day is 42% in coal production term in Colombia.

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