|Bid||0.000 x 0|
|Ask||0.000 x 0|
|Day's Range||0.000 - 0.000|
|52 Week Range|
|PE Ratio (TTM)||12.94|
|Forward Dividend & Yield||0.20 (4.13%)|
|1y Target Est||N/A|
Prices of aluminum, copper and gold all declined amid fears the U.S. will soon hit the European Union with steel and aluminum tariffs.
United Co. Rusal is searching for a way to keep sanctions at bay, now that U.S. Treasury Secretary Steven Mnuchin gave the aluminum producer a stay of execution. The U.S says it’s ready to drop the penalties on Rusal if its billionaire owner, Oleg Deripaska, relinquishes control. 1. Who owns Rusal?
Congo's state miner Gecamines is starting legal proceedings to dissolve its Kamoto copper and cobalt joint venture with a subsidiary of Glencore, blaming the commodities giant for high debts that have weighed on the mine for more than 10 years. Gecamines said on Tuesday that debts owed by Kamoto to Glencore (GLEN.L) and its subsidiaries at the end of 2017 topped $9 billion.
The Democratic Republic of Congo’s state-mining company has accused Glencore, the Swiss miner and commodity trader, of “draining” money from a joint venture that controls one of the country’s biggest copper and cobalt deposits. Gecamines launched legal action on Monday to dissolve the Kamoto Copper Company, claiming Katanga Mining, a Glencore subsidiary, had failed to reduce billions of dollars of intercompany debt, which had hindered its ability to pay dividends. If approved by a local court, the legal proceeding would allow Gecamines take sole ownership of KCC’s mining licence.
Glencore’s Katanga Mining is assessing options for a recapitalisation of a key unit, as it seeks to head off a dispute with Gecamines, the Democratic Republic of Congo’s state-owned mining company. Glencore warned earlier this year that it could face legal action in the DRC if it did not address a $3.9bn capital shortfall at KCC, which operates one of its most important copper mines. On Sunday, Gecamines opened proceedings against KCC, saying it should be dissolved because of its failure to address the “previously disclosed capital deficiency”.
Katanga Mining Ltd. will soon be the world’s top cobalt miner, churning out thousands of tons of metal and billions of dollars in revenue for Glencore Plc. It’s also turning into a major thorn in the commodity giant’s side. Katanga is controlled by Glencore but trades in Toronto, making it one of few options for equity investors seeking exposure to the coveted battery ingredient. Its shares surged more than 1,200 percent in 2017 as the company moved to restart production in the Democratic Republic of Congo and boost cobalt output -- just as ballooning projections for electric-vehicle sales turned the metal into one of the world’s hottest commodities.
This month state-owned Gécamines started legal action to dissolve the Kamoto Copper Company, saying it had failed to address its previously disclosed capital deficiency. Gécamines has complained that foreign mining companies in the DRC, one of the poorest countries in the world, have failed to pay sufficient dividends from their projects.
A Glencore Plc subsidiary said the Democratic Republic of Congo’s state-owned mining company began legal proceedings to dissolve a unit forecast to become the world’s largest cobalt mine, because of a ...
Investors pursuing a solid, dependable stock investment can often be led to Glencore Plc (LSE:GLEN), a large-cap worth UK£49.68B. Big corporations are much sought after by risk-averse investors who findRead More...
Glencore , the largest producer of cobalt from the Democratic Republic of Congo, has warned that a new focus on sourcing cobalt from small-scale miners in the resource-rich country increases the risks ...
The launch of the yuan-priced crude futures was quite successful, but the new contract is facing a number of structural and geopolitical threats
The International Monetary Fund said it was resuming loan disbursements to Chad after the Central African oil producer reached an agreement in principal to restructure its more than $1 billion debt to Glencore and four banks. Glencore and the banks lent Chad's state oil firm about $1.45 billion in 2014 to be repaid with crude oil cargoes but global oil prices crashed shortly thereafter. The debt has eaten up nearly all of Chad's oil profits -- its main source of revenue -- prompting tense negotiations that began last year about restructuring.
Aluminum prices gave up some of their recent sharp increases as investors sought to take advantage of the loss of 13% of global supply.
Swiss-based trading and mining giant Glencore (GLEN.L) will declare force majeure on some aluminium supply, days after the United States sanctioned major supplier Rusal and its boss, metals magnate Oleg Deripaska, a source familiar with the matter said. Glencore is a Rusal shareholder and one of its biggest customers. Glencore Chief Executive Ivan Glasenberg resigned from his role as Rusal director on Tuesday.
Let's see if Glencore Plc (GLNCY) stock is a good choice for value-oriented investors right now, or if investors subscribing to this methodology should look elsewhere for top picks.
Businesses controlled by Russian metals tycoon Oleg Deripaska are scrambling to find ways to keep trading after they were added to a U.S. sanctions blacklist. The sanctions - imposed by Washington in response to what it called "malign activities" by Russia - will in effect choke off access for Deripaska's businesses to the international financial system, forcing them to make major re-adjustments. Among individuals and entities named on Friday's sanctions list was Deripaska and a number of his companies, including Rusal and En+ Group, which manages his assets and owns his 48 percent stake in Rusal.
New U.S. sanctions are causing economic pain for Moscow, but have also ensnarled a handful of Western firms with deep roots in Russia.
Rusal's dollar bonds slumped to record lows, two major customers said they were reviewing their contracts, and the London Metal Exchange distanced itself from the aluminium giant on Tuesday, in the latest aftershocks from U.S. sanctions. The sanctions imposed on Rusal and its boss, metals magnate Oleg Deripaska, mark the first time a major international company has been targeted by Washington in its moves to punish Russia for alleged meddling in the 2016 U.S. election. While Russian markets, including the rouble, fell across the board on Monday, Rusal assets were hardest hit, with its Hong Kong-listed shares halving in value and the company warning it risked tipping into technical default.
Rusal's dollar bonds slumped to record lows, two major customers said they were reviewing their contracts, and the London Metal Exchange distanced itself from the aluminum giant on Tuesday, in the latest aftershocks from U.S. sanctions. The sanctions imposed on Rusal and its boss, metals magnate Oleg Deripaska, mark the first time a major international company has been targeted by Washington in its moves to punish Russia for alleged meddling in the 2016 U.S. election. While Russian markets, including the rouble, fell across the board on Monday, Rusal assets were hardest hit, with its Hong Kong-listed shares halving in value and the company warning it risked tipping into technical default.
Chilean miner Collahuasi said on Tuesday it expected to slash production costs to under $1 per pound of copper this year as it boosts output and uses efficiency measures to optimize operations. Collahuasi, owned by Anglo American Plc and Glencore Plc, is a copper mine located in northern Chile and is among the world´s largest.
* Financial shock is a potential problem for Putin (Updates after Putin-Medvedev meeting, adds c. MOSCOW, April 10 (Reuters) - The Russian government pledged to minimise the fallout from U.S. sanctions on Tuesday and dismissed steep falls in the rouble and financial markets as short-term volatility, saying Russia needed time to adjust to the new curbs.
The ruble plunged for the second day in a row on Tuesday following fresh U.S. sanctions against Russia. The Russian currency hit lows against the dollar and euro last seen in 2016, while the government ...