GLCNF - Glencore plc

Other OTC - Other OTC Delayed Price. Currency in USD
3.3600
0.0000 (0.00%)
As of 10:49AM EDT. Market open.
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Previous Close3.3600
Open3.3600
Bid0.0000 x 0
Ask0.0000 x 0
Day's Range3.3600 - 3.4000
52 Week Range3.1600 - 4.5100
Volume3,650
Avg. Volume56,127
Market Cap46.583B
Beta (3Y Monthly)1.11
PE Ratio (TTM)14.00
EPS (TTM)0.2400
Earnings DateN/A
Forward Dividend & Yield0.20 (5.91%)
Ex-Dividend Date2019-09-05
1y Target EstN/A
Trade prices are not sourced from all markets
  • Send in the troops: Congo raises the stakes on illegal mining
    Reuters10 hours ago

    Send in the troops: Congo raises the stakes on illegal mining

    A Congolese army officer arrived in the village of Kafwaya in June and warned residents not to trespass on a major Chinese copper and cobalt mine next door. Deploying soldiers to clear tens of thousands of illegal informal miners from mining concessions is a new approach by the authorities in Democratic Republic of Congo, who have wrestled with the problem for decades. Years of negotiations, alternative employment programmes and sporadic interventions by the police have all failed to resolve the issue, which has long been a concern for mining companies sitting on some of the world's richest mineral deposits.

  • Reuters10 hours ago

    INSIGHT-Send in the troops: Congo raises the stakes on illegal mining

    A Congolese army officer arrived in the village of Kafwaya in June and warned residents not to trespass on a major Chinese copper and cobalt mine next door. Deploying soldiers to clear tens of thousands of illegal informal miners from mining concessions is a new approach by the authorities in Democratic Republic of Congo, who have wrestled with the problem for decades.

  • Reuters2 days ago

    RPT-COLUMN-Why the cobalt market needs Congo's "illegal" miners: Andy Home

    The death last month of 43 artisan miners at the Kamoto Copper Company KOV concession in the Democratic Republic of Congo has refocused attention on the human cost of producing what is a key input into electric vehicle (EV) batteries. The KOV concession is majority-owned by a subsidiary of trading and mining group Glencore. The official response to the incident - sending the army to clear around 20,000 "illegal" miners from the area around the mine - merely underlines the problematic nature of the world's dependence on Congo for its supply of cobalt.

  • Financial Times3 days ago

    Martin Gilbert set to assume chair of Revolut

    Revolut is close to appointing City veteran Martin Gilbert as its new chairman, as the four-year-old digital bank aims to strengthen governance and win over investors ahead of an upcoming fundraising. Mr Gilbert, the former co-chief executive of Standard Life Aberdeen, has been informally advising Revolut’s chief executive for several months, and two people familiar with the situation said his appointment to the board is expected to be announced in the next few weeks. In the past Mr Gilbert has denied taking on too many roles, telling the Financial Times last year that he was “very disciplined”.

  • Financial Times3 days ago

    Trafigura ends use of middlemen after corruption probes

    Trafigura, one of the world’s biggest commodity traders, is to stop using intermediaries — the well-connected individuals who help set up contracts in resource-rich countries. The privately owned company, which trades more than 5.5m barrels of oil per day, will end all of its “business development” agreements with agents by October, although it will continue to use security advisers, risk analysts and other specialist service providers such as port agents. The move by Trafigura follows a series of corruption investigations and allegations involving intermediaries and middlemen that have caused alarm at the highest levels of the commodity trading industry.

  • Reuters5 days ago

    COLUMN-Why the cobalt market needs Congo's "illegal" miners: Andy Home

    The death last month of 43 artisan miners at the Kamoto Copper Company KOV concession in the Democratic Republic of Congo has refocused attention on the human cost of producing what is a key input into electric vehicle (EV) batteries. The KOV concession is majority-owned by a subsidiary of trading and mining group Glencore. The official response to the incident - sending the army to clear around 20,000 "illegal" miners from the area around the mine - merely underlines the problematic nature of the world's dependence on Congo for its supply of cobalt.

  • BHP Is Latest Giant Miner to Plan Exit From Thermal Coal
    Bloomberg6 days ago

    BHP Is Latest Giant Miner to Plan Exit From Thermal Coal

    (Bloomberg) -- BHP Group is moving ahead with plans to exit thermal coal, according to people familiar with the matter, the latest move by the world’s biggest miners to retreat from the dirtiest fuel.BHP is looking at options to divest the business that includes assets in Australia and Colombia, said the people, who asked not to be identified as the development has not been made public. There’s no guarantee the company will go ahead with a sale, the people said.The decision demonstrates how growing climate-change pressure from investors and regulators is reshaping the future of extractive industries. Rival Rio Tinto Group has already removed all exposure to thermal coal and other producers including Anglo American Plc have been cutting output amid growing pressure from investors. Even Glencore Plc, the biggest shipper, has said it will look to limit production.BHP had already signaled cooling interest in thermal coal. Earlier this year, Chief Financial Officer Peter Beaven said the company had no appetite for growth in the commodity.While thermal coal makes up a fraction of BHP’s profits, it’s led to some investors saying they can’t hold the stock.Norway’s $1 trillion sovereign wealth fund last month got the green light to dump more than $13 billion in stocks linked to fossil fuels, including companies that mine more than 20 million tons of thermal coal, pushing Anglo American and BHP out of reach. Climate Action 100+, which has the backing of more than 300 investors managing $32 trillion, has already forced reforms from extractive giants such as BP Plc and Glencore.For BHP, thermal coal has become increasingly hard to justify. The company’s profits are driven by iron ore, oil, copper and coking coal (used to make steel) and thermal coal is likely to contribute just 1% of profit this year, according to Liberum Capital Markets.BHP’s move comes as its biggest rival, Rio, has become increasingly emboldened on climate change after offloading its last coal mines last year. The company has started promoting itself as the only major miner without exposure to fossil fuels.The move is also likely to put further pressure on Anglo, which, despite dramatically cutting its coal output, still mines almost 30 million tons a year.Still, exiting coal is unlikely to be easy for BHP. Its Colombian mine stake, which it owns with Anglo and Glencore, feeds the European market where demand is weak right now. Capacity could be cut in the country to balance an oversupplied market, Liberum estimated.Macquarie Group Ltd. and JPMorgan Chase & Co. are seen as frontrunners to run a sales process for the BHP assets, the people said.Macquarie said earlier this year that BHP’s Australian thermal coal business had a net present value of about $600 million and estimated the figure for its Cerrejon business in Colombia at about $1 billion.(Updates with charts and context.)\--With assistance from Dinesh Nair.To contact the reporter on this story: Thomas Biesheuvel in London at tbiesheuvel@bloomberg.netTo contact the editors responsible for this story: Lynn Thomasson at lthomasson@bloomberg.net, Liezel HillFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Congolese army fires in the air during protest at Glencore plant
    Reuters9 days ago

    Congolese army fires in the air during protest at Glencore plant

    Congolese soldiers fired in the air on Monday as illegal miners protested outside a metallurgical plant on a copper and cobalt concession run by Glencore, a witness told Reuters. The protest at the Luilu plant follows the eviction last week of thousands of illegal miners from Glencore's Kamoto Copper Company (KCC) concession in southern Democratic Republic of Congo after 43 people died in a landslide.

  • Reuters9 days ago

    UPDATE 3-Congolese army fires in the air during protest near Glencore plant

    Congolese soldiers fired in the air on Monday as illegal miners protested outside a metallurgical plant on a copper and cobalt concession run by Glencore, a witness said. The protest near the Luilu plant follows the eviction last week of thousands of illegal miners from Glencore's Kamoto Copper Company (KCC) concession in southern Democratic Republic of Congo after 43 people died in a landslide. Glencore said in a statement that about 80 people had protested on the national road in the town of Luilu.

  • Financial Times10 days ago

    Congo, child labour and your electric car

    Miners drank beer, whisky and smoked to get through the day, he recalls. “It was very tiring, very difficult,” he says, standing on the edge of a makeshift football pitch by a school in Kolwezi in the DRC’s south-east. For more than a decade the global digital revolution has been enabled by places like Kolwezi, a mining town dotted with small Chinese casinos and faded Belgian colonial bungalows.

  • Armed Forces Called to Defend Glencore Mine in Congo
    Bloomberg12 days ago

    Armed Forces Called to Defend Glencore Mine in Congo

    (Bloomberg) -- Glencore Plc said armed forces of the Democratic Republic of Congo are in the area around the operations of its Kamoto Copper Co., after dozens of illegal miners were killed in a landslide last week.“We prioritize the safety and security of our workforce and host communities,” Glencore said in a statement on Thursday. “KCC will continue to engage with all the relevant stakeholders to collaborate on identifying and implementing a long-term, sustainable solution to illegal mining in the DRC.”Illegal miners will be removed from the site of the Glencore project where at least 43 died last week, Interior Minister Basile Olongo said on Saturday. Glencore estimates that 2,000 unauthorized people enter its open-pit mine on average every day.Illegal mining is the result of a harsh economic divide across Africa, home to some of the world’s richest reserves of metals and minerals and some of the poorest people, who are willing to risk their lives in dangerous conditions to eke out a living. Some mining concessions in Congo are vast with perimeters stretching for miles, making them difficult to police.The workers entered the KCC operation without permission and put their own lives at risk by digging at the site, one of the world’s biggest cobalt mines, Glencore said last week.It’s a problem that’s affected several companies in the industry. Congo has also deployed troops to protect China Molybdenum Co.’s Tenke Fungurume mine from illegal miners.Human RightsWhile General John Numbi, the inspector general of the armed forces, said diggers at TFM were cleared without a shot being fired, Amnesty International has said the presence of troops near the mines risks human rights abuses.The soldiers chased diggers away from the Glencore site Thursday, said Emmanuel Umpula, director of Afrewatch, a Kolwezi-based human rights group. Police dispersed protesting diggers from near the governor’s office by firing live rounds in the air, he said.“The diggers are asking for the creation of special artisanal mining zones as the governor has promised,” Umpula said. “They are also demanding that the provincial mining minister resign. They say the minister has never defended the diggers.”Glencore said KCC has asked the Congolese armed forces to “exercise restraint and operate in accordance with voluntary principles on security and human rights.”The army respected “the rules of engagement and conduct” at TFM and will do the same at KCC, General Philemon Yav told reporters.(Updates with comments general in final paragraph.)To contact the reporters on this story: William Clowes in Kinshasa at wclowes@bloomberg.net;Tiago Ramos Alfaro in London at talfaro1@bloomberg.netTo contact the editors responsible for this story: Lynn Thomasson at lthomasson@bloomberg.net, Dylan Griffiths, Nicholas LarkinFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Financial Times13 days ago

    Congolese army deployed to Glencore copper mine following deaths

    The Congolese army has arrived at Glencore’s largest copper and cobalt mine following the deaths of over 40 informal miners on the site. Glencore said it had communicated its expectations to the army that it “exercise restraint” and operate in accordance with international human rights standards. The Switzerland-based miner has said around 2,000 informal miners a day have been entering the site of the Kamoto Copper Company over the past month in the southern mining town of Kolwezi.

  • Reuters13 days ago

    UPDATE 3-Congo army evicts illegal miners from Glencore project, sparks protests

    Congolese security forces evicted thousands of illegal miners from a copper and cobalt mine run by Glencore on Thursday, sparking angry protests outside the governor's office and looting of shops, local activists said. The move by the police and army came one week after a landslide at the Kamoto Copper Company (KCC) concession, majority-owned by a Glencore subsidiary, killed 43 people, prompting a government pledge to swiftly remove the miners. Glencore said in a statement that Democratic Republic of Congo's army had been deployed to an area around KCC.

  • Reuters15 days ago

    UPDATE 2-Illegal miners defy eviction from Glencore's Congo project

    I llegal miners at a copper and cobalt mine run by Glencore in southeastern Democratic Republic of Congo defied a deadline to vacate the site on Tuesday, a union official said, raising fears of a potentially violent standoff. A landslide last Thursday at the Kamoto Copper Company (KCC) concession, majority-owned by a Glencore subsidiary, killed 43 people, prompting the government to vow to remove the miners.

  • Congo Army to Remove Illegal Miners From Glencore Site
    Bloomberg16 days ago

    Congo Army to Remove Illegal Miners From Glencore Site

    (Bloomberg) -- The Democratic Republic of Congo is preparing to send troops to remove illegal miners from a Glencore Plc mine where at least 43 people died last week.The deployment follows a similar move last month to protect China Molybdenum Co.’s Tenke Fungurume mine from incursions by illegal miners. Thursday’s fatal accident at an open pit operated by Glencore’s Kamoto Copper Co. was caused by a landslide that occurred after the people broke into an area of the mine, according to the company. Glencore estimates that 2,000 unauthorized people enter the industrial copper-cobalt site on average every day.Read more: Deaths at Glencore’s Mine Put Spotlight on Illegal Mining“I have received an order to do the same thing as at TFM,” General John Numbi, inspector-general of the Congolese Armed Forces, said by phone from the city of Kolwezi. “The president has instructed me to put an end to the theft of minerals in the concessions, on the mining sites."Congolese President Felix Tshisekedi met with senior military officers Sunday to discuss the response, Numbi said. The operation is expected start on Tuesday, he said.(Updates with timing in final paragraph. A previous version corrected Numbi’s location.)To contact the reporter on this story: William Clowes in Kinshasa at wclowes@bloomberg.netTo contact the editors responsible for this story: Lynn Thomasson at lthomasson@bloomberg.net, Liezel Hill, Dylan GriffithsFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Reuters16 days ago

    RPT-Glencore's Congo tragedy highlights security conundrum for miners

    DAKAR/LIMA, June 30 (Reuters) - The deaths of 43 illegal miners at a Glencore facility in Congo last week highlighted a growing challenge for mining companies struggling to secure sites from small-scale prospectors digging for cobalt, copper and other minerals. Many mines span hundreds of square kilometers across rural terrains, a tantalizing prospect for illegal miners, also known as artisanal miners, who break into sites in search of metals, some of which end up in electric cars and other products. "If people do not have work or an industry, they rely on this activity," said Patrick Hickey, a mining industry consultant who has worked at mines across Africa.

  • Reuters17 days ago

    CORRECTED-Glencore's Congo tragedy highlights security conundrum for miners

    DAKAR/LIMA, June 30 (Reuters) - The deaths of 43 illegal miners at a Glencore facility in Congo last week highlighted a growing challenge for mining companies struggling to secure sites from small-scale prospectors digging for cobalt, copper and other minerals. Many mines span hundreds of square kilometers across rural terrains, a tantalizing prospect for illegal miners, also known as artisanal miners, who break into sites in search of metals, some of which end up in electric cars and other products. "If people do not have work or an industry, they rely on this activity," said Patrick Hickey, a mining industry consultant who has worked at mines across Africa.

  • Reuters18 days ago

    After deadly collapse, Congo vows to remove illegal miners from Glencore concession

    Congo's interior minister vowed to remove all illegal miners by Sunday from a copper and cobalt mine run by Glencore following a landslide this week that killed at least 43 of them. Thursday's accident at the Kamoto Copper Company (KCC) concession near Democratic Republic of Congo's southern border with Zambia has focused attention on the dangers run by informal miners, who burrow dozens of metres below ground in search of ore using rudimentary tools. Glencore estimates that some 2,000 diggers enter KCC property each day.

  • Death Toll at Glencore’s Mine Puts Spotlight on Illegal Mining
    Bloomberg19 days ago

    Death Toll at Glencore’s Mine Puts Spotlight on Illegal Mining

    (Bloomberg) -- The dozens of people killed in a landslide at Glencore Plc’s mine in the Democratic Republic of Congo highlight a constant struggle in the industry: illegal mining.It’s the result of a harsh economic divide across Africa, home to some of the world’s richest reserves of metals and minerals and some of the poorest people, who are willing to risk their lives in dangerous conditions to eke out a living.The open-pit mine, which is part of the Kamoto Copper Co., that Glencore operates in Congo is vast and the perimeters stretch for miles, making them difficult to police. Glencore estimates that 2,000 unauthorized people enter the industrial site on average every day.The company said the people were killed in a landslide on Thursday after breaking into an area of the mine. As of Friday, 43 bodies had been recovered, according to Joseph Yav Katshung, chief of staff to the governor of the Lualaba province."Illegal mining is a prime example of the kind of risks associated with mining in DRC," said Indigo Ellis, an analyst at Verisk Maplecroft, a risk consultancy in London. "It’s not as simple as saying hiring private security will solve the problem, as often they are involved in this trade."Lives at RiskThe workers entered the mine without permission and put their own lives at risk by digging at the Kamoto industrial site, one of the world’s biggest cobalt mines, Glencore said in a statement on Thursday. There are possibly more unconfirmed fatalities, and a search and rescue operation is ongoing.Workers will go to extreme lengths to break into mine sites in Africa, sometimes tunneling underneath walls or living underground to extract ore with a pick-axe. Valuable metals like cobalt, an essential part of the lithium-ion batteries, and ready markets makes illegal mining an attractive choice for the poorest in Africa. South Africa estimates there are 14,000 people involved in the illegal mining.Troops DeployedIt’s a problem that’s affected several companies in the industry. Congo deployed troops to protect China Molybdenum Co.’s Tenke Fungurume mine from illegal miners.“The police are overwhelmed,” said Richard Muyej, the governor of Congo’s Lualaba province. He estimated there were 5,000 to 8,000 diggers at the Tenke Fungurume site."They attack those driving the machines to help themselves to the minerals, sometimes brutally," he said. "Are the police capable of facing this war? In three months, due to clashes between the police and diggers, I’ve lost three policemen, killed by thrown rocks. Others have lost their eyes.”A gold mine owned by AngloGold Ashanti Ltd. in Ghana was forced to evacuate employees when it was overrun by thousands of illegal miners in 2016. In South Africa, more than 30 illegal miners died in an explosion at an unused gold mine shaft in 2017.For Glencore, the mine accident is a warning sign of the risks of working in Congo, which ranks as one of the most corrupt countries in the world. Investors have punished the company’s shares in the past year because of a U.S. investigation into its financial dealings in Congo.The shares added 1.4% to 267.65 pence as of 1:02 p.m. on Friday, rebounding from a 4.9% loss yesterday."We are concerned about the risk of additional safety issues in the future as these illegal mining activities are unlikely to stop in the country," said Christopher LaFemina, an analyst at Jefferies Group LLC. "Security measures will clearly need to be increased to reduce the risk of another tragedy at these operations."(Updates with latest death toll in fourth paragraph.)To contact the reporters on this story: William Clowes in Kinshasa at wclowes@bloomberg.net;Felix Njini in Johannesburg at fnjini@bloomberg.netTo contact the editors responsible for this story: Lynn Thomasson at lthomasson@bloomberg.net, Liezel HillFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Reuters19 days ago

    UPDATE 1-Death toll rises at Glencore mine in Congo after collapse

    The number of artisanal miners killed by a landslide at a copper and cobalt mine run by Glencore in Congo rose to 43 on Friday and officials said the army would deploy at the mine as the search for more victims continued. Thursday's accident occurred in the KOV open-pit mine at the Kamoto Copper Company (KCC) concession near Democratic Republic of Congo's southern border with Zambia, in which Glencore subsidiary Katanga Mining has a 75% stake. "We think that other bodies are still under the rubble," said Joseph Yav Katshung, the chief of staff to the governor of the Lualaba province where the incident occurred.

  • Barrons.com19 days ago

    Ford to Cut 20% Of Its European Workforce, And Two More Numbers to Know

    Ford’s European operations have been struggling for a while. The cost-cutting is part of an effort by Ford (F) to turn around its global business—and pivot toward electrical vehicles and autonomous driving. Ford’s stock was up almost 3% on Thursday.

  • Glencore Says 19 People Were Killed in Congo Mine Collapse
    Bloomberg20 days ago

    Glencore Says 19 People Were Killed in Congo Mine Collapse

    (Bloomberg) -- Glencore Plc said at least 19 illegal miners were killed when part of a mine collapsed in the Democratic Republic of Congo.The workers entered the mine without permission and put their own lives at risk by digging at the Kamoto industrial site, one of the world’s biggest cobalt mines, Glencore said in a statement on Thursday. There are possibly more unconfirmed fatalities, and a search and rescue operation is ongoing.“Preventative action will likely be needed and it could impact Glencore’s social license to operate,” said Edward Sterck, an analyst at BMO Capital Markets. “If this event is related to illegal mining activity, then the impact to production may be relatively short term."The shares closed down 4.9% at 263.90 pence on Thursday. The company said the accident won’t affect production or its other operations in the area.Still, the deaths highlight the growing problem of illegal mining. Congo and other African countries face a constant struggle to stop their impoverished citizens from breaking into mines and extracting ore by hand. The open-pit mines are vast and have perimeters that stretch for miles, making them difficult to police. Glencore said on average 2,000 illegal miners enter its land each day.Glencore operates the sprawling Kamoto mine through its Katanga Mining Ltd. subsidiary in southeastern Congo, home to some of the world’s richest reserves of cobalt and copper, as well as the poorest people. Glencore halted sales of cobalt from the mine last year due to low levels of radioactivity, but has since restarted some shipments.Reuters reported earlier that at least 39 people were killed in the collapse, citing Richard Muyej, the governor of Lualaba province. Eric Tshisola, chief of staff to Lualaba Mining Minister Jean-Marie Tshizainga, put the death toll at 23 so far.Workers will go to extreme lengths to break into mine sites, sometimes tunneling underneath walls, and put themselves in dangerous situations. Congo deployed troops to protect China Molybdenum Co.’s Tenke Fungurume mine from illegal miners, Reuters reported earlier this month.It’s a problem that’s affected several companies in the industry. A gold mine owned by AngloGold Ashanti Ltd. in Ghana was forced to evacuate employees when it was overrun by thousands of illegal miners in 2016. In South Africa, more than 30 illegal miners died in an explosion at an unused gold mine shaft in 2017.Glencore has taken a more active role at Katanga since directors at its Toronto-listed subsidiary were fined and banned last year after the company misstated how much copper and cobalt it mined. Jeff Gerard, a senior executive at Glencore’s coal unit, became chief executive officer of Katanga in May.To contact the reporters on this story: Thomas Biesheuvel in London at tbiesheuvel@bloomberg.net;William Clowes in Kinshasa at wclowes@bloomberg.netTo contact the editors responsible for this story: Lynn Thomasson at lthomasson@bloomberg.net, Paul RichardsonFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Reuters20 days ago

    UPDATE 4-Accident at Glencore mine kills at least 41 in Congo

    At least 41 artisanal miners were killed on Thursday when part of a copper and cobalt mine owned by Glencore collapsed in southeast Congo, the provincial governor said. The accident occurred in the KOV open-pit mine at the Kamoto Copper Company (KCC) concession, in which Glencore subsidiary Katanga Mining owns a 75% stake, said Richard Muyej, the governor of Democratic Republic of Congo's Lualaba province. "KOV is a delicate site and presents many risks," he added.