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 [...]
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 [...]
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 [...]
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 [...]
UK dividends hit record-breaking high in 2018 January 21, 2019 UK dividend payments rose to a record £99.8bn last year driven by rising profits and better than expected special dividends. British American Tobacco accounted for almost one fifth of the increase in UK dividends as it paid out an additional £900m over the course of 2018, entering the UK top five for the first time, according [...]