Russian court orders Glencore to pay shares worth 114.8m euros in Sberbank lawsuit

A Russian arbitration court ruled on Monday that four units of Swiss commodities trader Glencore will pay more than 11.4 billion roubles, or some 114.8 million euros, worth of shares in a lawsuit filed by Sberbank, according to the court.

Deutsche Bank says Glencore may weigh listing move to US

Glencore Plc may consider switching its primary listing from London to New York, analysts at Deutsche Bank AG predicted, in what would be the most high-profile exit from the UK exchange to date.

Activist Tribeca asks Glencore to move main listing to Sydney

Activist investor Tribeca Investment Partners has called on Glencore to shift its primary listing from London to Sydney and abandon a plan to spin off its profitable coal business, the Financial Times reported on Wednesday.

Glencore to sell stake in troubled New Caledonia nickel operation

Glencore said on Monday it will close and sell its stake in the loss-making Koniambo Nickel SAS business it co-owns in New Caledonia, as a sharp drop in the metal’s prices continues to hit the industry.

Glencore reports lower 2023 copper, nickel, cobalt output; flags further falls

Miner and trader Glencore on Thursday reported lower copper, nickel and cobalt production in 2023 and signalled a further decline in output this year.

Zambia seeks to restructure Glencore debt with new Mopani investor

Zambia is seeking to restructure a $1.5 billion debt owed by Mopani Copper Mines to Glencore, which arose from its acquisition of Mopani in 2021, state-owned mining firm ZCCM-Investment Holdings (ZCCM-IH) said on Friday.

Vale BM says decision to merge Canada nickel ops with Glencore a priority

Mining News Pro - Vale Base Metals (VBM) is prioritizing a decision on whether to combine its nickel operations in Canada’s Sudbury basin with those of Glencore this year, a move that could reduce costs for both companies, its chairman said.

Glencore’s prized Canadian coal mines come with rising environmental scrutiny

Mining News Pro - A Glencore-led consortium’s successful $9 billion bid for Teck Resources’ steelmaking coal unit could face tougher environmental clean-up obligations, as water pollution from the mines comes under increasing scrutiny in the US and Canada.

Glencore to update climate plan in 2024 after investor pressure

Mining News Pro - Glencore will publish an updated climate action transition plan in March 2024, it said on Wednesday, after some investors rejected its climate progress report and it agreed to buy Canadian miner Teck Resources’ steelmaking coal business.

Glencore deploys autonomous trucks at Lomas Bayas copper mine

Mining News Pro - After having implemented autonomous drills, Glencore’s (LON: GLEN) Lomas Lab introduced a full set of autonomous haul trucks at the Lomas Bayas copper mine, located in the Antofagasta region of northern Chile.

Glencore’s Mutanda mine to produce less cobalt on ore depletion

Mining News Pro - Depleting ore grades of cobalt deposits at Glencore’s Mutanda mine in Congo means the miner will produce up to 15% less a year of the battery metal, three sources with knowledge of the matter said.

Glencore to build pilot battery recycling plant outside of Italy

Mining News Pro - Glencore has decided to build a pilot project for an electric vehicle (EV) battery recycling plant outside of Italy, but still has its eye on the island of Sardinia for a larger facility, the Swiss mining group said on Thursday.

Canada’s Lassonde ‘mystified’ by Teck choice of Glencore bid for coal unit

Mining News Pro - Canadian businessman Pierre Lassonde said on Wednesday that he is “mystified” by Teck Resources’ decision to sell its coal unit to a Glencore-led consortium for $9 billion because his group bid the same price.

Canada likely to approve Glencore-Teck deal despite foreign investment scrutiny

Mining News Pro - As Glencore prepares for the long grind to convince Canada of the virtues of the Swiss trader-led consortium’s $9 billion bid for Teck Resources’ coal unit, investors and lawyers are optimistic about the deal approval despite the government’s increased scrutiny of foreign investments.

Glencore ready to spin-off coal unit after sealing Teck buy

Mining News Pro - Glencore is moving ahead with plans to spin-off its profitable but polluting thermal coal business after clinching on Tuesday a $9 billion deal for the coal division of Canada’s Teck Resources.

Teck shares are back where they started before Glencore offer

Mining News Pro - Teck Resources has come full circle: After a tumultuous seven months kicked off by an unsolicited takeover offer from Glencore Plc that sent the Canadian firm’s stock soaring, its shares are now back where they began.

Glencore to shut Mount Isa copper mines by 2025, cut 1,000 jobs

Mining News Pro - Miner and trader Glencore is set to close its three underground copper mines in Mount Isa by the end of 2025, in a move that will result in the loss of about 1,000 jobs, newspaper Australian Financial Review reported on Tuesday.

Glencore to shut Mount Isa copper mines by 2025, cut 1,000 jobs

Mining News Pro - Miner and trader Glencore is set to close its three underground copper mines in Mount Isa by the end of 2025, in a move that will result in the loss of about 1,000 jobs, newspaper Australian Financial Review reported on Tuesday.

Glencore may look elsewhere for recycling hub after Italy rejects fast-track approval

Mining News Pro - Glencore Plc may look at alternative options for a recycling hub in Europe for electric car batteries after the Italian region of Sardinia rejected a fast-track approval process for its pilot project, the mining company said.

$1bn metals SPAC deal backed by Glencore

Mining News Pro - A $1 billion metals deal by blank-cheque fund ACG Acquisition Co has been terminated following delays when the different sides, which included a leading global miner and top automakers as anchor investors, tried to revise it, ACG said on Thursday.

Glencore-backed zinc miner is getting crushed in the debt market

Mining News Pro - A Peruvian zinc miner has seen its bonds tumble to an all-time low as investors grow increasingly concerned about its ability to refinance maturing debt and Swiss commodities giant Glencore Plc looks to sell its controlling stake.

Glencore half-year profit drops 50% as commodity prices ease

Mining News Pro - Glencore Plc reported a steep drop in first-half profit and slashed returns to its shareholders as disappointing Chinese demand weighs on commodity prices, while the volatility that its traders thrive on has eased dramatically since last year.

Glencore keeps dealmaking powder dry for Teck as payouts drop

Mining News Pro - Glencore Plc underlined its continued interest in a deal with Teck Resources Ltd. by holding back $2 billion for a potential purchase of the Canadian miner’s coal business — cash it would otherwise have returned to shareholders.

Glencore stockpiled cobalt in first half to support prices

Mining News Pro - Glencore stockpiled cobalt in the first half of the year, cutting supplies to the market to support prices of the electric vehicle battery material, the London-listed miner’s CEO Gary Nagle said on Tuesday.

Glencore in advanced talks for Argentina copper stake

Mining News Pro - Glencore Plc is in advanced talks to buy out its partner in Argentina’s Mara copper project as the commodity trader and miner seeks increased exposure to the metal, according to people familiar with the matter.

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