Glencore Xstrata boosts Hackett River, looks to get lean

摘要

The recently merged Glencore Xstrata (GLEN-L) plans to have a leaner corporate structure, but its first resource estimate shows it will still be hefty in terms of minerals in the ground. And while the new company will be mostly guided by Glencore's brain trust, it is a recent Xstrata acquisition that is bulking up the tonnage. Glencore Xstrata updated resources at the Hackett River project, which Xstrata acquired from Sabina Gold & Silver (SBB-T) in 2011. The new estimate boosts overall resources by 34% since the last estimate, which was released in 2011.