GLNCY Glencore Plc (PK)

LONDON--Xstrata PLC (XTA.LN), an Anglo-Swiss multinational mining company which is in the final stages of merging with Glencore International PLC (GLEN.LN), said Thursday Koniambo Nickel has produced its first nickel metal and is on track to achieve full production rate of 60,000 tons per annum by the end of 2014.

MAIN FACTS:

-First metal production signals the start of Koniambo Nickel as a multi-decade, tier one asset with long-term cash costs at the bottom of the second quartile.

-Xstrata shares closed in London Wednesday at 1074 pence valuing the company at 32.26 billion pounds.

-Write to Ian Walker at ian.walker@dowjones.com

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