AP
Miner Xstrata Talks Buyout
Wednesday December 12, 11:50 am ET One of World's Largest Miners, Xstrata, in Takeover Talks As Industry Consolidates

ZUG, Switzerland (AP) -- Xstrata PLC, one of the world's largest miners, said Wednesday it is in talks with various parties about a number of issues including possible buyouts.

"Xstrata is continually reviewing opportunities within the industry with a view to adding value to its shareholders," the company said in a statement. "None of these very preliminary discussions have resulted in any proposal being made."

Shares in Xstrata dipped 0.9 percent to 3,705 pence ($75.80) on the London Stock Exchange.

The mining industry has been consolidating. Xstrata recently received approval from South Africa's High Court to proceed with a $1 billion (720 million euros) takeover of Eland Platinum Holdings Ltd., while BHP Billiton Ltd. in November made a bid for Rio Tinto Group.

Rio Tinto has roundly rejected BHP Billiton's proposal -- valued at around $130 billion (88.33 billion euros).

Xstrata's statement came day after the Financial Times reported a possible takeover, naming Brazil's Companhia Vale do Rio Doce and Anglo American PLC as possible suitors.