A Glencore Plc-owned copper mine in the Democratic Republic of Congo is embroiled in a row over royalties with local tax authorities.

Friday, September 27, 2024 - 11:43:40

Visit: 32

UK authorities charged a sixth former Glencore Plc employee in their sweeping corruption case, as Alex Beard, the billionaire former head of oil at the commodities giant, appeared for the first time at a London court.

Wednesday, September 11, 2024 - 17:31:19

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Glencore operations directly contributed $11.1 billion to the New South Wales economy last year.

Friday, August 9, 2024 - 15:33:57

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Glencore has built up 25,000 metric tons of unsold zinc because of the expansion and ramp-up of its Zhairem operation, part of its Kazzinc business in Kazakhstan, the company said on Wednesday during a briefing call.

Thursday, August 8, 2024 - 15:16:10

Visit: 76

Glencore has stopped stockpiling electric vehicle battery material cobalt, its CEO Gary Nagle said on Wednesday, adding though that the market was likely to remain in surplus for another 18 to 20 months.

Wednesday, August 7, 2024 - 15:10:45

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Glencore scrapped on Wednesday plans to separate its coal division, which it had announced following its acquisition of assets from Teck Resources last year, as shareholders opposed the move.

Wednesday, August 7, 2024 - 15:06:59

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Analysts expect Glencore to keep its coal business as a strong contributor to revenue, following its acquisition of assets from Teck Resources.

Tuesday, July 30, 2024 - 14:12:48

Visit: 53

Shares of Teck Resources Ltd. jumped the most since April on the company’s plans to cut debt and return cash to shareholders thanks to proceeds from the sale of its steelmaking coal business to Glencore Plc.

Friday, July 5, 2024 - 14:50:59

Visit: 104

To secure the approval, Glencore has agreed to maintain Canadian headquarters for Elk Valley Resources (EVR) for at least 10 years, ensure a majority of the directors of EVR are Canadians, and maintain significant employment levels at EVR for no less than five years, the ministry said. SIGN UP FOR THE ENERGY DIGEST In a separate statement, Teck said it would use the deal proceeds to buy back up to C$2.75 billion ($2 billion) of its Class B subordinate voting shares, reduce its debt by up to $2 billion and fund near-term copper growth. The miner said it expects the deal to close by July 11. “Today I approved under strict conditions a much narrower transaction whereby Glencore will acquire Teck Resources metallurgical coal business,” Industry Minister Francois-Philippe Champagne said in a statement. He flagged that going forward Canada will set a high bar on net-benefit reviews when assessing mergers and acquisitions of important Canadian companies in the critical minerals space. “Henceforth, such transactions will only be found of net benefit in the most exceptional of circumstances,” Champagne said. Glencore CEO Gary Nagle said in a statement the company has made significant commitments to the Canadian government to ensure the transaction benefits Canada and British Columbia in the long term. In November, a Glencore-led consortium sealed one of the mining sector’s biggest deals, agreeing to acquire Teck Resources steelmaking coal unit for $9 billion. Swiss miner Glencore will get 77% of the business in a $6.9 billion cash deal, while 20% will go to Japan’s Nippon Steel, which already holds a 2.5% stake. South Korea’s POSCO will swap a stake in two of Teck’s coal operations for 3% in the steelmaking coal business Elk Valley Resources.

Thursday, July 4, 2024 - 14:39:34

Visit: 110

Production from a large new zinc mine in the Democratic Republic of Congo will be split between several new buyers including trading giant Trafigura Group, after rival Glencore Plc backed away from a previous deal for the entire supply.

Wednesday, June 26, 2024 - 02:29:47

Visit: 92

Production from a large new zinc mine in the Democratic Republic of Congo will be split between several new buyers including trading giant Trafigura Group, after rival Glencore Plc backed away from a previous deal for the entire supply.

Wednesday, June 26, 2024 - 02:29:47

Visit: 62

British prosecutors investigating former Glencore Plc employees over bribery allegations said they plan to bring long-awaited criminal charges.

Tuesday, June 18, 2024 - 21:39:35

Visit: 151

Zambia made its first move in implementing plans to set up a state company to trade in the minerals that Africa’s second-biggest copper producer exports.

Thursday, June 13, 2024 - 13:41:52

Visit: 82

Zambia made its first move in implementing plans to set up a state company to trade in the minerals that Africa’s second-biggest copper producer exports.

Wednesday, June 12, 2024 - 14:09:04

Visit: 110

Glencore Plc is considering selling its stake in Kazakh mining company Kazzinc amid interest from potential buyers in China, people familiar with the situation said.

Wednesday, June 5, 2024 - 20:56:22

Visit: 138

A majority of Glencore investors have indicated they were satisfied with the commodities giant’s plans to reduce carbon emissions, just as it gets closer to completing its acquisition of Teck Resources’ steelmaking coal business.

Friday, May 31, 2024 - 20:20:30

Visit: 106

Glencore Plc will start consulting with shareholders on the future of its coal business as soon as its deal to buy Teck Resources Ltd.’s mines closes later this year.

Thursday, May 30, 2024 - 19:54:38

Visit: 80

Glencore Plc will start consulting with shareholders on the future of its coal business as soon as its deal to buy Teck Resources Ltd.’s mines closes later this year.

Wednesday, May 29, 2024 - 22:19:54

Visit: 159

Glencore Plc will start consulting with shareholders on the future of its coal business as soon as its deal to buy Teck Resources Ltd.’s mines closes later this year.

Wednesday, May 29, 2024 - 22:16:20

Visit: 131

Swiss-based trading house Glencore and aluminum producer Rusal have extended their long-term supply contract into next year after the amount traded so far has amounted to a fraction of the agreement’s maximum volumes, a source with direct knowledge said on Wednesday.

Wednesday, May 22, 2024 - 14:44:59

Visit: 164

As part of the mining industry’s transition towards electrification, Sandvik has initiated a pilot project to deploy a second-life battery energy storage system (BESS) at to-be-determined assets held by Glencore.

Tuesday, May 21, 2024 - 14:27:55

Visit: 99

Australia’s Queensland state will decide this month whether to give Glencore a key approval to bury liquefied carbon dioxide in the country’s largest aquifer, a plan farm groups say must be blocked because it risks poisoning water supplies.

Monday, May 13, 2024 - 14:17:41

Visit: 192

Glencore expects profit at its trading division this year to be at the top end of its long-term annual guidance, in an elevated interest rate and high commodity price environment, it said on Tuesday.

Tuesday, April 30, 2024 - 23:49:20

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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.

Monday, April 15, 2024 - 23:28:22

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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.

Tuesday, April 2, 2024 - 19:40:44

Visit: 170