Xstrata Mulls $9bn in Investments

23 March 2010 (Last Updated March 23rd, 2010 18:30)

Xstrata is considering $9bn-worth of investments and looking at acquisitions, a top official from the company said. Xstrata CEO of nickel Ian Pearce said the company is studying ten projects in addition to more than $14bn it expects to spend on expansion in the next three years, according

Xstrata is considering $9bn-worth of investments and looking at acquisitions, a top official from the company said.

Xstrata CEO of nickel Ian Pearce said the company is studying ten projects in addition to more than $14bn it expects to spend on expansion in the next three years, according to Bloomberg.

Xstrata said it is expecting a continued revival in metal and coal demand as the global economy recovers.

Pearce said the majority of the projects the company is considering, however, are low cost, low risk brownfield expansions.

The company’s Koniambo nickel mine in New Caledonia is expected to start production in 2012 - Xstrata earlier said it plans to increase copper and coal production 50% by 2013.

Xstrata is the world’s largest nickel producer and exporter of coal used for power.