The creation of Xstrata plc

In March 2002, Xstrata plc was created through an initial public offering on the London Stock Exchange. It was more than seven times oversubscribed. Simultaneously, we acquired the Australian and South African coal assets of Glencore, the largest shareholder in Xstrata, for $2.5 billion. As a result we became the world’s largest exporter of thermal coal and entered the FTSE 100 index as the 100th largest company. The transformational deal created the foundations for building Xstrata into the global business it is today.