Glencore reveals record fatalities September 7, 2011 Commodities group Glencore released its first sustainability report yesterday, showing it paid $780,000 in major environmental fines last year and had 18 fatalities. This compares with three deaths for Rio, five at BHP Billiton and 26 at India-focused Vedanta Resources during its 2010-2011 financial year to the end of March. The 106-page report said the [...]
FTSE sees modest rise on solid company news September 6, 2011 Stocks have moved higher this morning following heavy selling in the US and Asia overnight, but markets remain under pressure over fears of a global recession. Positive trading updates from a number of companies have given UK shares a modest lift this morning after yesterday’s 189-point slump. But in a warning sign that investor sentiment [...]
Manchester United might score in Singapore September 5, 2011 MANCHESTER United’s attempt to float in the far east is being monitored carefully in the City. After all, there are not many IPOs going on in the moribund London market right now. A number of football club boards will be looking on to see if United, led on the financial advisory side by Credit Suisse, [...]
Glencore in fuel deal with Libya’s NTC September 5, 2011 COMMODITIES trader Glencore has signed its first contract to deliver fuels to Libya’s interim council, industry sources said, in a further sign that rival Vitol is losing its place as top supplier to the rebels who now rule the country. The National Transitional Council (NTC) has gained broad international recognition as Libya’s legitimate government and [...]
Glencore and consortium eye $1bn deal September 1, 2011 SOUTH AFRICA’S Optimum Coal has confirmed a consortium including a unit of commodity trading giant Glencore and prominent local politician-turned-tycoon Cyril Ramaphosa was interested in buying it for about $1bn (£618m). This would be Glencore’s most significant purchase since its record share listing, when it sacrificed its fiercely protected privacy to gain the balance sheet firepower [...]
Glencore moves to buy S.Africa’s Optimum Coal September 1, 2011 Commodity trading giant Glencore has confirmed it aims to take a controlling stake in South African coal miner Optimum Coal Holdings with its local partner, prominent local politician-turned tycoon Cyril Ramaphosa. The deal would be worth around $1bn (£613m) at OCH’s current share price. This would be Glencore’s most significant purchase since its record share [...]
FTSE 100 ends August on a high despite economic fears August 31, 2011 BRITAIN’S top share index climbed 2.4 per cent yesterday as poor economic data in Britain and abroad fuelled expectations of further economic stimulus but it still recorded the worst monthly performance since February 2009. The benchmark FTSE 100 index closed up 125.87 points or 2.4 per cent at 5,394.53, on the final trading day in [...]
Optimum Coal confirms unit of Glencore has bought stake August 29, 2011 SOUTH Africa’s Optimum Coal said yesterday that a unit of Glencore, the world’s largest commodity trader, had bought a 14.1 per cent stake in it. The announcement comes after Optimum, South Africa’s sixth-largest coal producer, confirmed last Friday that it had received takeover approaches. “A consortium comprising Piruto BV, a wholly owned subsidiary of Glencore [...]
THE TIPSTER August 29, 2011 MINER Glencore has had a real fall from grace since coming to the market back in May at over £5. In fairness, as with any high beta stock, when the market falls, they generally follow suit. One thing is clear, it is still are very ambitious and acquisitions are still the aim of the game [...]
Glencore eyes South African Optimum Coal August 25, 2011 SOUTH AFRICAN miner Optimum Coal has become the latest acquisition target for Glencore as the company looks to benefit from recent economic turmoil that has prompted a sell-off in the markets. Sources close to City A.M said that the commodities trader has set its sights on buying South Africa’s sixth-largest coal producer and is preparing [...]