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.
What do analysts think of BHP’s £31.1bn proposal for Anglo American? April 25, 2024 Though the proposal mandates divesting two of Anglo American's problem children, it appears BHP is fine with keeping diamond brand De Beers.
London Metals Exchange to clamp down on Russian metal ‘rent share’ trading games April 24, 2024 The LME is seeking to clamp down on 'rent share' warehouse games of trading sanctioned Russian metals.
Is the London Stock Exchange’s golden age of mining over? April 6, 2024 Glencore and Anglo American come immediately to mind when one considers the recent struggles for London miners.
Commodity traders still made bank last year despite calmer markets April 5, 2024 Global commodity trading generated more than £79bn in earnings before taxes (EBIT) in 2023.