Coronavirus: Glencore set to cut spending as production falls April 30, 2020 Glencore said that it would cut capital spending and production guidance for the year but stressed that it was well-placed to weather the coronavirus storm. Shares in the firm fell over one per cent in the morning’s trading. The coronavirus pandemic has forced the commodities giant to halt operations in countries such as South Africa, [...]
Glencore braced for coronavirus impact as earnings fall February 18, 2020 Glencore saw earnings drop 26 per cent to $11.6bn (£9bn) last year as the commodities giant warned that it was “closely watching” the coronavirus outbreak’s impact on global markets. Shares in the blue-chip stock fell 0.8 per cent as markets opened. The figures Although earnings declined to $11.6bn from $15.8bn in 2018, Glencore still beat [...]
Glencore shares rise as cobalt production offsets copper drop February 4, 2020 Shares in global miner Glencore rose five per cent this morning as the firm brushed off lower production volumes of metals such as copper, gold and silver. Production of the red metal slipped six per cent in 2019 to 1.37m tonnes, whilst gold production fell 15 per cent to 848,000 tonnes. The company has been [...]
BP and Glencore struggling to offload contaminated Russian oil August 21, 2019 BP and Glencore are still trying to offload huge reserves of tainted Russian crude oil several months after problems were discovered. The UK-listed giants have around 600,000 tonnes of the oil which they are struggling to sell off, several traders told Reuters. Read more: Opec agrees to extend oil supply cuts by nine months A [...]
Heavy metal: FTSE 100 miner Glencore earnings crash as copper prices sink August 7, 2019 Glencore earnings dived 32 per cent to $5.6bn in the first half of 2019, the miner confirmed this morning, as it blamed poor performance in its African mines and lower prices for copper and cobalt. The figures Glencore’s earnings before interest, tax, depreciation and amortisation (Ebitda) slumped 32 per cent year on year to $5.6bn. [...]
Congo starts evicting up to 2,000 illegal miners from Glencore site where dozens died July 4, 2019 The Congolese army has started evicting miners from a Glencore site after a landslide which killed dozens. Illegal miners were being dispersed from the area around the copper and cobalt mine run by a Glencore subsidiary today. Read more: Glencore head of oil Alex Beard retires amid US investigations The company London-listed miner confirmed that [...]
Glencore head of oil Alex Beard retires amid US investigations June 3, 2019 Glencore parted ways with another of its top brass today, as the man who helped make it an oil trading giant announced he would step down amid US probes into its activities. Alex Beard, 52, who has been head of oil since 2007, will leave at the end of the month. Read more: Australian weather [...]
BHP bets on batteries as it decides to keep its Australian nickel mine May 14, 2019 London-listed miner BHP has said it wants to keep its Australian nickel mine as the industry starts betting on a battery-powered future. Chief executive Andrew Mackenzie today said the company would hold on to the Nickel West mine which it has tried to sell several times. Read more: BHP Billiton faces $5bn claim for failure [...]
Australian weather batters Glencore production guidance April 30, 2019 Mining giant Glencore today downgraded for its copper output estimates, as production at some mines are set to be hit by upgrade works. Copper production is expected at around 1.46m tonnes in the financial year, Glencore said, down from a previous 1.54m tonnes estimate. Read more: JP Morgan backs Sirius Minerals $3.8bn financing package for [...]
FTSE 100 risers: London miners climb blue-chip index as Vale shuts another mine March 21, 2019 London miners dominated the FTSE 100 this morning after Brazilian giant Vale said it was suspending production at another mine. Fresnillo led the charge of the metals producers, up 5.3 per cent, but Antofagasta, Glencore and Anglo American also made the top five risers on the index. Read more: Shares in miner Ferrexpo plunge after [...]