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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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Visit: 314
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.
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Visit: 323
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.
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Visit: 344
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.
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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.
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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.
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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.
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Visit: 492
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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Visit: 423