Commodities trader Glencore and mining giant Xstrata have confirmed they will merge to create a major natural resources group with a combined equity market value of $90 billion.

The companies said that to combine was the logical next step in a changing industry environment.

The combined entity will have production growth of 11 per cent on a compound annual basis to 2015, with positions in the next major regions for mining investment, including the African copper-belt, Kazakhstan and South America.

The University of Kentucky’s Lean Systems Program is perhaps the closest you can come to understanding lean as Toyota sees it. Program director Ken Kreafle and Kathleeen Jeurisson of Lake Region Medical, talk about the people side of true lean.

Tullow Oil has signed two new production sharing agreements (PSAs) with the government of Uganda, paving the way for completion of its asset sale to France’s Total and China’s CNOOC.

The new PSAs cover the EA-1 and Kanywataba licences in the Lake Albert Rift Basin. Tullow has also been awarded the production licence for the Kingfisher field, which is estimated to hold around 300 million barrels of oil.

Yesterday’s announcement that Xstrata and Glencore were indeed talking to each other about a possible “merger of equals” has hit the fan, and stirred up a storm of comment around the world.

Everybody who’s anybody in world media has been saying today that this is the worst kept mining M&A secret of recent times, and they all have their own angle on it.

The name “Glenstrata” has been coined by someone (I know not by whom, but I offer my congratulations) as a name for the potential merged company.

UK-based Subsea 7 has been awarded a $100 million contract by BP Exploration for work on the Clair Ridge Project, West of Shetland.

The Clair Ridge development will comprise two new bridge-linked platforms to be sited to the north-east of Clair Phase 1.

The contract scope includes the project management, engineering, procurement, fabrication and installation of a six kilometre, 22 inch oil export pipeline and a 14 kilometre, 6 inch gas export pipeline connected to the new production facilities and existing Clair Phase 1 export systems.

Anglo-Swiss mining operator Xstrata has confirmed talks with the world’s largest commodities trader Glencore International plc about an “all share merger of equals.”

After much speculation about alleged talks, Xstrata issued a statement today confirming that it has received an approach from and is in discussions with Glencore, but stressed that “there can be no certainty that any offer will be made.”

Logistics company Lynden International has extended its reach with the opening of a new service centre in Belgium, Lynden International (BE).

The new facility will see the company entering the transport and logistics services market catering for Belgium-based medical, pharmaceutical and other growth industries.

The centre will serve the medical and pharmaceutical industries with temperature-controlled shipping and single-point entry departure in and out of Europe, the company said.

US carmaker Chrysler Group today reported its best January sales since 2008, with US sales of 101,149, a 44 percent increase over January 2011.

Chrysler, Jeep, Dodge and Ram Truck brands each posted sales increases in January compared with the same month a year ago, in the 22nd-consecutive month of year-over-year sales gains.

Chrysler brand sales increased the most, with 17,604 units sold, up 81 percent over the previous year, with Ram Truck sales up 42 percent, Jeep up 37 percent, and Dodge increasing by 29 percent.

Finnish stainless steel maker Outokumpu has agreed to acquire Inoxum, the stainless steel unit of Germany’s ThyssenKrupp.

The €2.7 billion deal is set to make Outokumpu a market leader in European stainless steel, with almost €12 billion in revenues, more than 19,000 employees and an approximate 50 per cent market share.

Outokumpu already employs around 8,000 people in more than 30 countries and is headquartered in Espoo, Finland.