Hints and tips:
...ZCCM-IH, Glencore and IHC declined to comment. Zijin and Norinco did not respond to requests for comment....
...Glencore and other global trading groups stopped supplying Chinese metals merchant Huludao Ruisheng last year after $500mn worth of copper went missing....
...Open Mineral was founded in 2017 by a group of former Glencore executives....
...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?...
...“The Glencore case probably needs to be put back in context....
...Its 5 times multiple of forward ebitda, before BHP’s approach, was about 15 per cent below BHP and Glencore, and 40 per cent under US-listed Freeport-McMoRan....
...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....
...Anglo’s rejection of the proposal raises the prospect of a bitter hostile takeover battle, as analysts speculate whether industry rivals such as Glencore and Rio Tinto will attempt rival bids....
...A tie-up involving the two listed groups would be one of the most influential in the mining sector since Glencore’s acquisition of Xstrata in 2013....
...The deal marks an end to Glencore’s agricultural trading arm, which was previously known as Glencore Agriculture. Glencore acquired Viterra for $6.1bn a decade ago....
...Glencore’s first big win of dealmaking summer Glencore’s busy summer of dealmaking isn’t slowing down one bit....
...Thanks to a strong run in coal prices in 2021 and early 2022, companies that pared back their exposure — see BHP’s and Anglo American’s 2021 sale of the Cerrejón mine to Glencore — experienced the regret...
...Russ Mould, investment director at AJ Bell, says: “Leading copper miners listed in the UK include Antofagasta and Central Asia Metals, while Anglo American, Rio Tinto and Glencore are more diversified producers...
...The combination of US-listed Bunge with Glencore-backed competitor Viterra, in an $8.2bn deal, brings together two of the biggest traders of grains, oilseeds and other agricultural commodities, further tightening...
...(Myles McCormick and Amanda Chu) Power Points Exclusive: Almost no Russian oil is sold below $60 price cap Glencore consortium seals $9bn deal for Teck’s coal business IEA says oil market to return to...
...Viterra’s owners — Glencore, Canada Pension Plan Investment Board (CPPIB) and British Columbia Investment Management — will receive about 65.6mn shares of Bunge stock, valued at approximately $6.2bn and...
...Glencore expects to produce about 110mn tonnes of coal a year during the 2023-2025 period, similar to its level in 2022....
...Glencore declined to comment. Access World did not respond to a request for comment....
...At Glencore, coal earnings rose to $13.2bn, compared with $1.2bn during the same period a year earlier. “The seaborne producers are the big winners,” said Myles Allsop, analyst at UBS....
...At publicly listed Glencore, the earnings before interest and tax in its trading division rose to $6.4bn last year, up 73 per cent from the year before....
...The bid represented the start of a major consolidation wave in the global commodities sector, which has included BHP’s move on smaller rival OZ Minerals and Glencore’s unsolicited bid for Canada’s Teck Resources...
...Glencore is understood to be among the miners that have sold Australian coal to China following the thaw in diplomatic ties....
...Glencore declined to provide its own estimates for methane emissions from its Australian coal mines....
Anglo-Australian group reports 29% drop in half-year earnings as commodity prices fall
...During the FT Mining Summit last week, Jason Kluk, head of nickel at Glencore, one of the world’s largest producers and traders of the metal, said: “What’s clear is that the LME has put up their hand and...
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