Glencore ordered to pay $700 million by US judge in bribery case

Mining News Pro - Glencore Plc was ordered by a federal judge in New York to pay $700 million as a criminal punishment for a global bribery scheme orchestrated by the Swiss-based commodities trading and mining giant.

Glencore hit by fresh bribery-related lawsuit in the UK

Mining News Pro - Glencore is facing a fresh lawsuit in the UK related to alleged losses to shareholders resulting from the mining and commodities trader’s involvement in bribery.

Glencore to sell 23% stake in Peruvian miner Volcan

Mining News Pro - Miner and commodities trader Glencore (LON: GLEN) has kicked off a sale process for its 23% stake in Peruvian zinc and silver miner Volcan.

Glencore’s Antapaccay copper mine attacked, fire breaks out

Mining News Pro - Glencore’s massive Antapaccay copper mine in Peru faced its latest disruption on Friday, as a fire spread through a nearby worker housing area which is believed to have been started by protesters, a source familiar with the matter told Reuters.

Glencore halts operations in Peru due to violent protests

Mining News Pro - Following Friday’s attack that set on fire a worker housing area, Glencore announced that it has halted operations at the Antapaccay copper mine in southern Peru.

Glencore evacuates personnel after protesters vandalize Antapaccay mine camp

Mining News Pro - The campsite at Glencore’s Antapaccay copper mine in southern Peru was vandalized by a group of people protesting against the country’s new president and demanding a general election.

Colombian municipalities affected by exit of Glencore’s subsidiary demand smooth transition into non-mining activities

Mining News Pro - The mayors of five municipalities that fall within the Cesar mining corridor, in northern Colombia, have asked the Gustavo Petro government to gradually phase out mining operations and promote a smooth transition into another type of industry. This, instead of ordering an abrupt closure of all of the mines in the region.

Russia’s Sberbank urges Glencore to resolve dispute over oil bill

Mining News Pro - Sberbank on Monday accused Glencore of choosing not to foot a bill for oil supplied via the Russian lender, saying the global commodities trader could have found a way to pay up without violating Western sanctions.

Glencore scraps $1.3 billion Australian coal project

Mining News Pro - Peers including BHP (ASX: BHP) and Rio Tinto (ASX: RIO) are in the midst of a transformation away from carbon-emitting fossil fuels in favour of minerals necessary in the low-carbon energy transition, such as copper, nickel, lithium and cobalt.

Glencore scraps giant Australian coal project on net-zero goals

Mining News Pro - The company won’t develop the A$2 billion ($1.3 billion) Valeria project in Queensland’s Bowen Basin, it said Thursday. The site would have produced about 20 million tons of coal a year, and been a major source of global carbon dioxide over its 37-year lifetime.

Glencore pays $180 million to Congo to settle corruption claims

Mining News Pro - This includes the company’s payment of $27.5 million in bribes to the DRC between 2010 and 2013.

Musk says Tesla has never contemplated investing in Glencore

Mining News Pro - “No. We’ve never contemplated investing in Glencore,” he said, speaking at an investor conference in New York.

Glencore buys Newmont’s stake in Argentina copper-gold project

Mining News Pro - Mining and commodities giant Glencore is buying Newmont’s minority stake in the Argentinean MARA cooper-gold project, a joint venture created in 2020 between the two companies and Yamana Gold.

Ancient remains found at Glencore’s project in Argentina

Mining News Pro - A mine worker at Glencore’s El Pachón copper and molybdenum project in Argentina’s San Juan province bumped into human remains while performing some road cleaning duties over the weekend.

Glencore faces Australian challenge over net-zero strategy

Mining News Pro - Environmental lawyers ClientEarth said on Thursday they were supporting a complaint filed in Australia against Glencore alleging the miner and trader could be misleading investors and the public over its climate strategy.

Glencore to end silver streaming deal with Wheaton on Peru mine

Mining News Pro - Wheaton Precious Metals agreed to end its so-called silver “streaming” deal with Glencore Plc on Peru’s Yauliyacu mine for $150 million, the Canadian company said on Thursday, so that Glencore could divest the mine.

Glencore cuts off Chinese trader caught up in missing copper scandal

Mining News Pro - Global commodity traders including Glencore (LON: GLEN) and IXM have halted shipments to Chinese metals merchant Huludao Ruisheng after nearly half a billion dollars’ worth of copper went “missing” at a storage site in the country’s north.

Glencore takes heat in Quebec for smelter that spits out arsenic

Mining News Pro - Quebec’s public health director took aim at Glencore Plc for toxic emissions at a copper smelter in the province’s northwest, saying the level of pollution must be brought down quickly because of evidence it’s causing increased risk of cancer and other health problems.

Glencore profit more than doubles thanks to soaring coal price

Mining News Pro - Mining and commodities trader Glencore (LON: GLEN) posted on Thursday record profit of $18.9 billion in the first half of 2022, more than doubling last year’s figure thanks to its booming thermal coal business.

Glencore profit more than doubles thanks to soaring coal price

Mining News Pro - Mining and commodities trader Glencore (LON: GLEN) posted on Thursday record profit of $18.9 billion in the first half of 2022, more than doubling last year’s figure thanks to its booming thermal coal business.

Glencore is cashing in on coal to dodge big mining’s slowdown

Mining News Pro - The world’s biggest miners have spent the past two weeks reporting lower profits, shrinking dividends and a worsening outlook as the year rolls on. Next up: Glencore Plc looks set to buck the trend.

Glencore flags cash tied up in record trading profits

Mining News Pro - Glencore Plc, on course to report it best ever trading year, has flagged that those profitable bets have tied up more working capital than normal.

Cameroon’s anti-graft agency says investigations into Glencore bribery underway

Mining News Pro - Cameroon’s anti-corruption agency is investigating claims by miner and commodities trader Glencore Plc that it paid bribes to officials at state-run companies in exchange for favours, an official said on Tuesday.

Glencore expands coal mining in an Australian methane hotspot

Mining News Pro - Glencore Plc is expanding a coal mine that scientists have estimated leaks so much planet-wrecking methane each year it has the same warming impact as the annual emissions from millions of cars.

At Australia mine, Glencore balances reforestation drive, coal profit

Mining News Pro - At Glencore’s aging Mt Owen open-cut coal mines north of Sydney, a team of scientists and engineers is restoring woodlands to mined-out fields, aiming to burnish the company’s environmental credentials with climate activists and shareholders who want it to back away from coal.

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