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 [...]
Chick-fix: Glencore offices raided over chickpea price conspiracy March 18, 2019 More than 25 Indian officials descended on the Mumbai office of Glencore at the weekend as authorities investigate alleged price fixing of one of the country’s vital commodities – chickpeas. The Competition Commission of India (CCI) is looking into claims that commodities traders at Glencore Agriculture, which is half owned by the Anglo-Swiss miner, conspired [...]
End of an era: Martin Gilbert’s legacy as he steps down from Standard Life Aberdeen chief executive role March 13, 2019 City veteran Martin Gilbert stepped down as joint chief executive of Standard Life Aberdeen this morning as the investment firm ditched the management structure put in place following the 2017 merger of Standard Life and Aberdeen Asset Management. The move brings to an end Gilbert's 36-year reign as chief executive of Aberdeen Asset Management, and Standard [...]
Mining bosses to discuss safety after accident which killed hundreds February 24, 2019 A group of leaders from some of the world’s biggest mining companies will meet this week to discuss safety after a tragedy in Brazil which is thought to have killed over 300 people. Chief executives from Anglo American, BHP, Antofagasta, Glencore and Barrick Gold, among others, are expected to meet on the fringes of the [...]
Acid spill near Glencore mine kills 20 February 22, 2019 A truck transporting acid to a mine owned by Glencore in the Congo has killed around 20 people after colliding with two minivans. The truck carrying sulphuric acid crashed with the vehicles around 31 miles from the Mutanda copper and cobalt mine in the Democratic Republic of Congo at 6pm on Wednesday evening, a spokesperson for [...]
Congo cobalt mine takes chunk out of mining giant Glencore’s full-year earnings February 20, 2019 Mining giant Glencore’s shares were on the up this morning as it announced rising adjusted profits, despite missing analyst estimates and taking a huge 41 per cent hit net income hit from costs relating to its copper and cobalt mine in the Democratic Republic of Congo (DRC). The firm also announced a $2bn (£1.53bn) share [...]
Revealed: Final cost of ‘botched’ Garden Bridge project comes to £53.5m February 13, 2019 Backers of the failed Garden Bridge project are under fire after the "galling" costs of the scheme were revealed to have spiralled north of £50m. The Garden Bridge Trust, which managed the project since November 2015, was accused of “squandering public money” on the ill-fated venture, after Transport for London admitted that the project racked [...]
FTSE 100 roundup: Today’s winners and losers February 1, 2019 The FTSE 100 finished 0.74 per cent up today, nudging just above 7,000 points to finish on 7,020.22. The index was bolstered by weakness in the pound after the release of further disappointing manufacturing statistics this morning. Sterling has had a tough end to an already difficult week, falling 0.3 per cent against the dollar, striking a [...]
Copper output grows at Glencore as Katanga mine comes back online February 1, 2019 Copper and cobalt production at Glencore got a big boost last year, as its Katanga mine came back online. The Anglo-Swiss miner said that own-sourced copper production has grown some 144,000 tonnes to 1.45m, an 11 per cent increase on 2017. Read more: Church of England sells shares in miner Vale after dam disaster kills hundreds [...]
FTSE risers and fallers: Exporters rise after pound weakens January 30, 2019 A weaker pound boosted Britain’s biggest listed companies today after MPs voted against an extension to Article 50 , and supported the Prime Minister’s plan B for Brexit. The FTSE 100 rose 1.58 per cent to 6,941.63 as its many exporters saw an increase in investor confidence. Read more: Vale takes £1bn hit as it sacrifices output [...]