Glencore launches $1bn buyback programme despite profit fall February 19, 2025 Glencore has launched a $1bn (£792m) share buyback programme despite recording a 16 per cent drop in adjusted earnings before interest, tax, deprecation and amortisation (EBITDA) in 2024. The firm’s EBITDA fell to $14.4bn, down from $17.1bn in 2023, while adjusted earnings before interest and tax (EBIT) fell by a third. Despite the fall, the [...]
Mining behemoths Rio Tinto and Glencore reportedly considered merger January 17, 2025 Mining giants Rio Tinto and Glencore reportedly discussed a merger last year. The two companies held discussions as late as October last year, but they didn’t progress further, as first reported by the Financial Times. A merger in full or in part of Glencore, with a market cap of £46.47bn and Rio Tinto, with £164.99bn, [...]
Global dividends hit record high despite UK drop off November 21, 2024 Global dividends hit a record third quarter high in 2024 after rising to $431.1bn (£340.7bn), despite a sharp drop off in UK payouts. Globally, 9 companies in ten (88 per cent) increased their dividends or held them flat, but UK dividends fell seven per cent to $25.8bn (£20.4bn) thanks in large part to mining sector [...]
London dividend payouts slow as mining gravy train runs out of steam September 10, 2024 London investors were left short-changed in the second quarter of the year as miners reined in dividends after years of blockbuster payouts, according to new research. Firms like Glencore and Rio Tinto have formed the bulk of payouts in the City in recent years as swinging commodity prices pushed up profits in the sector. However, [...]
Glencore: FTSE 100 mining giant opts against coal spin-off after investor feedback August 7, 2024 Glencore no longer plans to demerge its coal business after an “overwhelming majority” of shareholders told the mining giant to retain the division. The FTSE 100 constituent had planned to spin off its coal business after it completed the $7bn (£5.51bn) acquisition of Teck Resources’ steelmaking coal business in November last year. However, on Wednesday, [...]
Swiss authorities order Glencore to pay £119m over to resolve bribery probe August 5, 2024 Energy giants have been ordered by the Swiss authorities to pay a fine and compensation totalling around £119m, in regards to the bribery of a Congolese public official by its business partner in 2011
UK company interest payments skyrocket as rate hikes eat into profits July 1, 2024 UK company interest costs have skyrocketed almost 30 per cent as higher interest rates and rising debt ate into the profits of British businesses.
Anglo American shares surge as Glencore reportedly mulls a takeover May 3, 2024 Shares in Anglo American have shot to the top of the FTSE 100 this morning after reports that rival Glencore was mulling a potential bid for the firm.
Glencore expects strong year from trading arm but reports lower copper output April 30, 2024 lencore reported total copper production of about 239,700 tonnes for the first quarter, compared to 244,100 tonnes a year earlier. It said cobalt production was down due to lower output at its Mutanda mine in Congo.
South African minister lashes out at BHP over previous merger April 25, 2024 BHP now has until 5pm on 22nd May to either announce a firm offer for Anglo or that it does not intend to make an official bid.