Mining company Xstrata has confirmed it has been involved in talks concerning a possible takeover, but says no offer has been made or received.
Following recent media speculation, Xstrata issued a statement confirming talks have been held.
"Xstrata confirms that its ongoing interaction with other industry participants includes dialogue with a number of parties covering a range of topics of mutual interest such as industry consolidation," the statement says.
"Xstrata is continually reviewing opportunities within the industry with a view to adding value to its shareholders.
"None of these very preliminary discussions has resulted in any proposal being made either for of by Xstrata and there can be no certainty that any such proposal will result."
Reuters reports Xstrata is listed by the UK Takeover Panel as a potential "offeree" or takeover target.
Company shares have risen 30 percent since 22 November on the back of the rumours.
By Elizabeth Clifford-Marsh
