|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||4.01 - 4.09|
|52 Week Range||3.70 - 5.91|
|Beta (3Y Monthly)||1.58|
|PE Ratio (TTM)||9.55|
|Forward Dividend & Yield||0.20 (4.83%)|
|1y Target Est||N/A|
(Reuters) - Glencore Plc said its chairman Tony Hayward will no longer be attending the Future Investment Initiative conference in Saudi Arabia, confirming a report in the Financial Times. He is the latest ...
The mine's workforce will be reduced to 930 from 1360, said Glencore, which bought the mine from Rio Tinto (RIO.AX) (RIO.L) in March. The miner, which began operational management of Hail Creek from Aug. 1, said it would introduce a seven days on, seven days off roster system, meaning that employees at the mine would work 7 days and take the next 7 days off. The company also said it would reconfigure the mining methods it uses at Hail Creek and expects the process to be phased in over the next 18 months, with majority of the changes expected to be in place by the second quarter of 2019.
Base metals from copper to zinc have tumbled this year, caught up as a proxy for trade fears and emerging market jitters. Meanwhile, coal has ground steadily upwards, supported by strong demand from top commodities user China, and is trading near the highest in more than six years. Glencore Plc is in touching distance of seeing its coal mining profits eclipse copper earnings this year for the first time since it sold shares in London in 2011.
For nearly 20 years, the brash, hyperactive Greek known to everyone simply as “Telis” has ruled over the global copper market, buying and selling enough of the red metal to supply every factory in the U.S. twice over. Today, the man who built Glencore’s reputation in copper is facing tough questions about how he did it. Mistakidis, who until recently ran both copper trading and mining, is under intense pressure after a string of investigations, problems and legal headaches.
The interest from two of the biggest commodities trading houses underscores the strategic value of Optimum’s annual entitlement to ship 8 million tons of coal through Africa’s largest export terminal for the fuel. While South Africa is well-positioned for exports to India and China, shipments are constrained by limited port capacity.
Working at the Century Aluminum Co. smelter in Hawesville, Ky., can be like having a job in an oven. The interior temperature hovers around 140F, which isn’t necessarily hotter than, say, your typical steel mill. What’s especially hellish about an aluminum smelter is how close you have to stand to bubbling vats of molten, electrified metal. Over a 12-hour shift they’ll lose several pounds of water weight as they peer over cauldrons, occasionally stirring 1,700-degree liquid aluminum with long metal rods.
Sweeping job cuts by pharmaceutical giant Novartis and an upbeat trading statement by retailer Next are the corporate highlights in Europe Tuesday.
Commodities trader and miner Glencore said on Tuesday it would repurchase more of its shares worth up to $1 billion, increasing the size of an existing buyback programme that followed a subpoena from U.S. authorities. Glencore said in July it would buy back shares worth up to $1 billion in a programme of purchases running to the end of 2018. The London-listed miner, with a market capitalisation of $61 billion, announced plans to repurchase shares after the U.S. government investigation into bribery and corruption sent the stock down more than 15 percent since the start 2018.
Glencore Plc will increase its share buyback program by as much as $1 billion, adding to a growing list of moves by the world’s biggest miners this year to return more money to investors. Glencore’s announcement comes less than a week after No. 2 miner Rio Tinto Group announced a $3.2 billion share buyback following an asset-sale spree. BHP Billiton Ltd. in August paid out a record dividend and pledged to hand shareholders most of the $11 billion reaped in sales of its U.S. shale assets.
China and the U.S. may not yet be in an all-out trade war, but the trenches are getting wide and deep. On Monday, President Trump announced new tariffs on $200 billion of Chinese imports. Late Tuesday, China fired back to the tune of $60 billion.
Global mining companies that bet on coal are enjoying the best prices in years—a sign there is money to be made from the industry even as an energy transition to gas and renewables takes place. Glencore PLC has used rising sentiment against coal to expand its position in the market, scooping up unwanted assets. High demand from Asia helped thermal coal prices delivered from Newcastle, Australia, the world’s largest coal-export port, more than double since it bottomed in early 2016 to about $110 a metric ton.
The Democratic Republic of Congo will declare cobalt a strategic metal, imposing a 10 percent royalty tax on producers including Glencore Plc and China Molybdenum Co. The measure will increase costs for miners even further after an overhaul of regulations earlier this year raised royalty payments on cobalt, copper and gold, and introduced new taxes. Congo, the world’s biggest cobalt producer and also one of the poorest nations, is seeking to derive more income from natural resources that account for almost all of its export earnings and about a quarter of government revenue.
Chile's congress is studying a proposal for an additional royalty payment for copper and lithium miners operating in the country to bolster the development of the regions around their deposits, according to a draft seen by Reuters. The initiative, which was put forward by opposition legislators from mining areas and does not have government backing, proposes a 3 percent tax on the nominal value of extracted metals and would apply to copper miners producing more than 12,000 tonnes of copper a year and 50,000 tonnes of lithium. It was sent on Thursday evening to the mines and energy committee of the country's house of representatives, but support for it remains in question since it was put forward by lawmakers from a number of small parties pushing for Chile's decentralization.
The Democratic Republic of Congo’s government will soon announce which minerals are to be designated “strategic” and subject to a 10 percent royalty rate, the mines minister said. Congo’s updated mining code, signed by President Joseph Kabila in March and applied since regulations were finalized in June, introduced new taxes and hiked royalties on all metals -- including raising copper and cobalt to 3.5 percent from 2 percent and gold to 3.5 percent from 2.5 percent. “A decree from the prime minister will be able to do it very soon,” Minister Martin Kabwelulu said by email on Friday.
The copper mine Collahuasi in Chile is expected to produce 545,000 tonnes of copper this year, 4 percent more than in 2017, its vice president of operations, Francisco Carvajal, told journalists on the sidelines of an event in Peru on Thursday. Collahuasi, owned by Anglo American Plc and Glencore Plc, is located in northern Chile and is among the world's largest copper mines.
South Africa's Competition Tribunal on Thursday conditionally approved Glencore's proposed $973 million acquisition of Chevron Corp’s subsidiary in the country, all but scuppering a rival bid from China's Sinopec. Chevron agreed last year to sell its 75 percent stake to state-owned Sinopec, before miner and commodities trader Glencore swooped in after reaching a deal with minority shareholders, who backed it and exercised preemptive rights on the sale.
NEW YORK, Sept. 07, 2018-- The Law Offices of Vincent Wong announce that class actions have commenced on behalf of shareholders of the following companies. If you suffered a loss you have until the lead ...
LOS ANGELES, CA / ACCESSWIRE / September 7, 2018 / The Schall Law Firm , a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Glencore plc ("Glencore" ...
Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Glencore plc (OTCMKTS: GLCNF, GLNCY) from September 30, 2016 through July 2, 2018 (the “Class Period”) of today’s important lead plaintiff deadline in the first filed case commenced by the Rosen Law Firm. The lawsuit seeks to recover damages for Glencore investors under the federal securities laws. To join the Glencore class action, go to http://www.rosenlegal.com/cases-1373.html or call Phillip Kim, Esq.
NEW YORK, NY / ACCESSWIRE / September 7, 2018 / Bronstein, Gewirtz & Grossman, LLC reminds investors that a class action lawsuit has been filed against Glencore PLC ("Glencore" or the "Company") ...
National securities litigation law firm Glancy Prongay & Murray LLP (“GPM”) reminds investors of the September 7, 2018 deadline to file a lead plaintiff motion in the class action filed on behalf of investors that purchased Glencore Plc (“Glencore” or the “Company”) (OTC: GLCNF, GLNCY) securities between September 30, 2016 through July 2, 2018, inclusive (the “Class Period”). Glencore investors have until September 7, 2018 to file a lead plaintiff motion.