Glasenberg plays down talk of plan to make a move on ENRC

 
Kasmira Jefford
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ENRC shares fell sharply yesterday morning after Glencore’s chief executive dismissed reports that it was preparing a bid for troubled metals producer.

Ivan Glasenberg took the opportunity to quash the rumours after releasing the Swiss commodities firm’s first set of quarterly profits since its flotation last month.

“We can confirm that although we talk to a lot of people in the sector, we are not actively considering a bid for ENRC,” he said.

ENRC’s share price was also hit after its general council Randal Barker resigned, which comes after two of its non-executive directors, Ken Olisa and chairman Sir Richard Sykes, were ousted from the board last week.

ENRC’s London-listed shares fell 1.9 per cent to 761.50p.

ANALYSIS L MAIN PRODUCTS FROM GLENCORE’S

London IPO

CST
$475m spent on cooper mine

KATANGA
49,800 tonnes copper

MOPANI
18,400 tonnes copper

KAZZINC
74,300 oz zinc
26,800 oz lead
94,000 oz gold
1,953,000 oz silver

Hong Kong IPO