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The Times: Need to Know: Global Business Briefing: NATURAL RESOURCES

August 10, 2006 
 
NATURAL RESOURCES
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Falconbridge, the Canadian nickel and copper miner, has formally backed a $21.2 billion (£11 billion) offer from Xstrata, the Swiss-based miner that it had once spurned as a suitor, as it closed the door on Inco, the rival Canadian bidder.

Royal Dutch Shell, the Anglo-Dutch oil group, said that it was making progress in repairing a pipeline in Nigeria to resume production there.

Russia may divide up the state’s shareholding in Rosneft, the oil group, which last month raised $10.4 billion in a stock market float, so that the company can meet exchange listing requirements.

Delta Petroleum, the US oil group, said the results of an independent inquiry into its possible historical stock options backdating will be provided to US prosecutors and regulators.

 

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