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Glencore

  • Mining meltdown: Antofagasta, Glencore and Anglo American share prices plummet amid copper selloff

    January 14, 2015

    Miners led the FTSE 100's biggest fallers in morning trading after a sudden collapse in copper prices knocked oil off the top of the commodities watch list. The metal plunged by more than six per cent after the World Bank slashed its global growth forecast for 2015. Antofagasta was the biggest faller, with shares dropping [...]

  • Glencore knocked back but not giving up

    October 7, 2014

    Multinational mining company Glencore has said that it is no longer actively considering a £100bn merger with larger rival Rio Tinto, despite talks between its bosses. In a statement yesterday afternoon, however, Glencore kept the door open for a future offer – even hinting that this could come within the six-month waiting period imposed by [...]

  • Glencore rules itself out of Rio Tinto bid for six months

    October 7, 2014

    Glencore has distanced itself from a merger with rival miner Rio Tinto – forgoing the opportunity to make a formal bid for the next six months as a result.    Last night Rio Tinto revealed it had firmly rejected an approach from the smaller firm, which would have created a £100bn giant, leapfrogging BHP Billiton [...]

  • Rio Tinto share price rockets following Glencore rejection

    October 7, 2014

    Rio Tinto's share price peaked at £31.46 today, up by more than six per cent from yesterday.   The rise followed news that Glencore was discussing a possible merger between the two mining companies with Rio Tinto's largest shareholder, the Chinese state-backed Aluminium Corp.   Earlier, Rio Tinto had released a statement confirming that “no [...]

  • Rio Tinto rejects Glencore’s £60bn mega-merger bid

    October 6, 2014

    Merger would create world’s biggest mining group Giant mining group Rio Tinto last night revealed it had firmly rejected an ap­proach from Glencore, in the opening salvo of a new mega-merger bid in the sector. The estimated £60bn offer would have created a £100bn titan by market capitalisation, with the combined group leapfrogging BHP Billiton [...]

  • London Mining and Glencore share prices hit by dispute over contract payment

    September 22, 2014

    London Mining has accused Glen­core of non-payment of an iron ore contract between the two mining firms, hitting shares in both companies hard yesterday. Shares in Aim-listed London Mining plummeted over 10 per cent yesterday to close at an all-time low of 23.25p, while giant mining company Glencore saw its shares fall nearly five per [...]

  • Glencore share price rises as mining giant gives $1bn buyback to shareholders

    August 20, 2014

    Mining and commodities giant Glen­core kept to its commitment to reward shareholders as it announced a $1bn share buyback yesterday, with shares rising on the news and strong first-half results that saw its profits rise above expectations.   The Switzerland based firm, founded in 1974, saw its underlying profit rise by eight per cent to [...]

  • Glencore reveals $1bn share buyback as earnings increase 8pc

    August 20, 2014

    Glencore has revealed an eight per cent increase in adjusted earnings alongside plans to pay out up to $1bn of cash to shareholders through a share buyback programme. The news means Glencore will return capital to investors before mining competitors BHP Billiton and Rio Tinto, with the company saying the buyback will run to March [...]

  • Glencore share price slides after a mixed first-half output report

    August 13, 2014

    Commodities powerhouse Glencore saw its share price slump over three per cent yesterday on a mixed half-year production report. The integrated miner trader said production of copper – the metal it makes almost half its profit from – rose 13 per cent to 741,000 tonnes. But the FTSE 100 company, which completed a $40bn (£23.9bn) merger [...]

  • End of an era as Glencore names Patrice Merrin as first female director

    June 26, 2014

      The last bastion of male-only boards at a blue-chip company fell yesterday when Glencore Xstrata appointed Patrice Merrin as its first female director.   The Anglo-Swiss mining and trading giant had come under heavy criticism from the government, its shareholders and Club 30% – which aims to get FTSE 100 boards to be made up [...]

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