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...Glencore declined to comment on the letter....
...Glencore-backed Horizonte Minerals has failed to secure financing to complete its nickel mine in Brazil after costs rose and investor concern grew that Indonesia is flooding the market for the EV battery...
...Glencore-backed Horizonte Minerals has failed to secure financing to complete its nickel mine in Brazil following soaring costs and rising investor concern that Indonesia is flooding the market for the electric...
...All of Glencore’s climate targets include scope 3 emissions....
...Glencore has lowered its annual payout for shareholders to a quarter of last year’s after the global energy crisis calmed and the natural resources group focuses on reducing debt as it finalises a $6.9bn...
...Glencore shares fell 2.4 per cent by late morning in London, trading at their lowest level in two years....
...The jump in costs leaves Horizonte scrambling to find a financing solution and comes as a blow to Glencore, which holds 17.7 per cent of Horizonte’s shares....
...The mismanaged budgeting is a blow to Glencore, which holds 17.7 per cent of the company’s shares and is entitled to future supply from the mine for 10 years....
...Glencore and Anglo own 44 per cent each of the prized Collahuasi copper mine in Chile, meaning a takeover would give Glencore near full control....
...“Glencore is appreciative of the French government’s efforts to revitalise and rescue the nickel industry in New Caledonia,” it said....
Norway; ant geopolitics; ZIRP; Glencore vs Chad; VAR
...A consortium led by Glencore has struck a $9bn deal to buy the coal business of Teck Resources, as the London-listed mining and trading giant doubles down on the fossil fuel....
...Corporate results: Adidas, Air France-KLM, Banco Santander, Capgemini, Glencore, Hargreaves Lansdown, Howden Joinery, HSBC, Lufthansa, Mercedes-Benz, OMV, St....
...Please tell us what you think of Glencore’s coal strategy in the comments section below...
...If a deal is eventually agreed, it would be the sector’s biggest transformation since Glencore bought Xstrata more than a decade ago. Why make a deal now?...
...Glencore reiterated that it intended to demerge the combined business within 24 months of the Teck deal closing, after having reduced Glencore’s net debt....
...“The Glencore case probably needs to be put back in context....
...In recent years, Glencore, Vitol and Gunvor have settled similar corruption charges with the US Department of Justice....
...CMOC raised production at its two mines in the DRC by 172 per cent last year, allowing it to overtake Glencore as the world’s largest producer of cobalt, the report added....
...London’s FTSE 100 fell 0.6 per cent, pulled lower by steep declines for index heavyweights HSBC and Glencore....
...Glencore: Shares in the metals group fell 6.2 per cent after it cut payouts to shareholders in a bid to reduce debt....
...Glencore reported $20bn of earnings in 2022 largely driven by bumper coal profits....
...While Glencore’s bid for all of Teck was rejected, the two companies are still in talks over whether Glencore might buy Teck’s coal operations....
...Glencore announced additional shareholder returns of $2.2bn — a level far below the previous year — taking the total for the year to $9.3bn....
...Glencore is represented by Wilmer Cutler Pickering Hale and Dorr....
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