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Glencore may end zinc deal
GLENCORE has offered to end a zinc sales deal with global producer Nyrstar to win EU approval for its £56bn mega merger with Xstrata.
The European Commission said yesterday it had extended its review of the Glencore and Xstrata mega merger until 22 November, as it considers the competition impact of the merger between the mining giants.
If the deal goes ahead, a combined Glencore and Xstrata could have 50 per cent of the European zinc market. If Glencore ended the deal with Nyrstar, it would free up 350,000 tonnes of zinc, it is thought.
Glencore yesterday declined to comment.