Glencore, the world’s biggest commodities trader, has announced a plan to join forces with Anglo-Swiss company Xstrata to create the globe’s fourth largest natural resources firm.

If the merger is approved by shareholders, the new company will be worth 90 billion US dollars (£57 billion) and operate in 33 countries around the globe.

Glencore chief executive Ivan Glasenberg said: “We have a fantastic opportunity to create a new powerhouse in the global commodities industry.”

Shareholders at Xstrata, the world’s biggest exporter of thermal coal and producer of copper, nickel and zinc, will have a 45% stake in the new company if the plan goes ahead.

As a result of the deal, Xstrata may need to make use of professional translation services as the company has operations in Africa, Asia, Europe, and North and South America.

Glencore, which trades commodities including oil, coal, gold and food, already holds a 34% stake in Xstrata. It is expected that the fusion will make the two mining giants more competitive against rivals BHP Billiton and Rio Tinto.