CAPITAL MARKETS

Glencore cans Balaclava Island terminal

THE newly merged Glencore-Xstrata has already started to scale back its greenfields projects, with the announcement that it will be withdrawing from the Balaclava Island export terminal development north of Gladstone in Queensland.

Lau Caruana
Glencore cans Balaclava Island terminal

The resources giant – which received final approval for the merger less than two weeks ago – is also putting pressure on the Queensland government to be more proactive in developing infrastructure during...

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