GLEN.L - Glencore Plc
| Previous Close | 371.70 |
| Open | 375.00 |
| Bid | 367.30 x 1586300 |
| Ask | 385.00 x 294500 |
| Day's Range | 371.70 - 386.75 |
| 52 Week Range | 275.80 - 416.90 |
| Volume | 48,566,978 |
| Avg. Volume | 53,408,812 |
| Market Cap | 53.528B |
| Beta | 2.04 |
| PE Ratio (TTM) | 9.36 |
| EPS (TTM) | 40.00 |
| Earnings Date | Aug 8, 2018 |
| Forward Dividend & Yield | 0.14 (3.59%) |
| Ex-Dividend Date | 2018-09-06 |
| 1y Target Est | 5.98 |
- Bloomberg Video•5 days ago
Glencore Tests U.S. Sanctions With Congo Partner Payments
Jun.15 -- Glencore Plc is testing the limits of U.S. sanctions by resuming payments to its partner in the Democratic Republic of Congo, Dan Gertler, as part of an effort to keep access to valuable mining assets. Bloomberg's Lynn Thomasson reports on "Bloomberg Markets: European Close."
- Oilprice.com•yesterday
Can Oil Pull Greece Out Of Poverty?
Greece’s withering economy could use the extra income from oil & gas production, but so far, the country has only seen a few exploration successes
Reuters•2 days agoOil stocks help FTSE outperform amid trade tensions
Britain's top stock index dipped on Monday as trade tensions between the United States and China kept the pressure on equity markets across Europe, weighing on multinational companies. The FTSE 100 fell 0.03 percent to its lowest since May 30 but substantially outperformed other European stock markets. Strong energy stocks underpinned the FTSE 100, while a weaker pound also boosted the index's mainly exporting companies.
Bloomberg•5 days agoGlencore Caves to Congo to Keep Its Electric Car Dream Alive
Glencore Plc will likely have an easier time working in the Democratic Republic of Congo after it paid to solve two of its biggest problems. Faced with the risk of losing control of its mines, Glencore bowed to the demands from two entities with close government ties -- the state-run mining company Gecamines and Dan Gertler, who is under U.S. sanctions and a friend of President Joseph Kabila. In two deals announced within days of each other, Glencore agreed to circumvent U.S. sanctions, give up rights to copper reserves, reduce the debt of a local subsidiary and pay a $150 million fee for reasons it didn’t fully explain.
- The Wall Street Journal•5 days ago
[$$] Glencore to Resume Payments to Sanctioned Billionaire Gertler
PLC said it would resume multimillion-dollar payments to a former business partner sanctioned by the U.S. Treasury Department, setting up a test for whether Washington is willing to give Western firms more wiggle room in dealing with sanctioned counterparts. in December after sanctions were imposed for alleged corruption in the Democratic Republic of Congo. It said, though, it would make the payments in euros and ensure no American citizens had any role in the arrangement to comply with U.S. sanctions.
- Bloomberg•5 days ago
Glencore Tests U.S. Sanctions With Congo Partner Payments
Glencore Plc is testing the limits of U.S. sanctions by resuming payments to its partner in the Democratic Republic of Congo, Dan Gertler, as part of an effort to keep access to valuable mining assets. ...
Bloomberg•5 days agoGlencore Evades U.S. Sanctions to Keep Its Powerful Ex-Partner Happy
Not many billion-dollar companies would be willing to circumvent U.S. sanctions for their business partner, but then few people are as powerful as Dan Gertler in the Democratic Republic of Congo. Gertler scored a victory when Glencore said on Friday that it would evade U.S. sanctions to keep paying him royalties from copper and cobalt mines. It’s a rare, possibly unprecedented, arrangement for a global corporation and speaks to Gertler’s power over Glencore, which has bet its future on Congo’s mining riches.
- Bloomberg•6 days ago
Glencore's Great Game Is Avoiding U.S. Sanctions
Glencore Plc’s announcement on Friday that its Democratic Republic of the Congo mining subsidiaries will restart royalty payments to Israeli billionaire Dan Gertler is eyebrow-raising to say the least. The U.S. imposed blocking sanctions on Gertler in December, following allegations of corruption related to the sale of DRC mining assets. Glencore worked with Gertler for years to tap into Congo’s vast mining resources, but has since cut ties.
Reuters•6 days agoGlencore settles with Gertler over Congo royalties
Glencore (GLEN.L) has settled a mining dispute in Democratic Republic of Congo with two companies associated with Israeli billionaire Dan Gertler by agreeing to pay royalties in a currency other than U.S. dollars, the company said on Friday. U.S. sanctions on Gertler, Glencore's former Israeli partner in copper and cobalt operations in Congo had triggered litigation and a legal tangle that investors worried might affect supplies of cobalt from the world's biggest producer of the metal. Glencore earlier this week reached a settlement in another dispute involving its Kamoto copper and cobalt mine in Congo, although it remains at odds with the Congolese government over a mining code signed off at the start of the year.
- Financial Times•6 days ago
[$$] Glencore settles legal dispute with former Congo business partner
has settled a potentially damaging legal dispute in the Democratic Republic of Congo by agreeing to pay Dan Gertler, its former business partner in the country, money he is owed from copper and cobalt mines. Glencore said on Friday it had determined that “the only viable option to avoid the material risk of seizure of its assets under DRC court orders” was to pay Mr Gertler his royalties as they came due.
- Bloomberg•6 days ago
Gecamines Says Glencore Deal to Yield Billions for Congo State
A settlement between a Glencore Plc unit and Democratic Republic of Congo’s state-owned Gecamines will contribute billions of dollars of revenue to the government over the next decade, an official said. Glencore reached a deal with Gecamines on Tuesday to end a legal dispute over Kamoto Copper Co., which is set to become Congo’s largest copper and cobalt mine. Gecamines had sought to shut down KCC after claiming Glencore failed to address a capital shortfall at the subsidiary.
- Reuters•6 days ago
Glencore says settled Congo mining dispute
Miner and commodities trader Glencore has settled its Congo mining dispute with two companies associated with Israeli billionaire Dan Gertler by agreeing to pay royalties in a currency other than U.S. dollars, Glencore said on Friday. U.S. sanctions on Gertler, Glencore's former Israeli partner in copper and cobalt operations in the Democratic Republic of Congo, had triggered litigation and a legal tangle that investors worried might impact supplies of cobalt from the world's biggest producer of the metal. Glencore said it believed payment of the royalties in non-U.S. dollars to Africa Horizons Investments Limited and Ventora without the involvement of U.S. entities would address applicable sanctions obligations.
- Bloomberg•6 days ago
Glencore to Restart Payments to Sanctioned Billionaire Gertler
Glencore Plc said it will restart royalty payments to sanctioned Israeli billionaire Dan Gertler in a bold move likely to test the company’s relations with the U.S. government and investors. Glencore, which had cut ties with Gertler after he was sanctioned for alleged corruption, will make the payments in euros using a non-U.S. financial institution, according to a statement on Friday. A spokesman said the company discussed the matter with U.S. and Swiss authorities, but declined to confirm whether the U.S. Treasury had given assurances that it will not pursue secondary sanctions.
- Bloomberg•6 days ago
Glencore Tests U.S. Sanctions Resolve With Gertler Payments
Glencore Plc, the world’s biggest commodities trader, is testing the limits of U.S. sanctions. The company has moved to resume payments to its longtime partner in the Democratic Republic of Congo, Dan Gertler, without public approval from U.S. authorities, as part of an effort to keep access to valuable mining assets. Glencore called the payments to Gertler “the only viable option to avoid the material risk of seizure” of its Mutanda Mining Sarl and Kamoto Copper Co. assets in Congo.
- Financial Times•6 days ago
[$$] Glencore DRC judgment will jack up metals prices
The settlement of a dispute between Glencore and Gécamines, the state mining company in the Democratic Republic of Congo, will cost the world a great deal more than the $5.6bn debt write-off accepted by Glencore. Mining company profits have risen with prices and demand in the past year but have not yet reached the eye-watering level that will be needed to induce new long-term capital spending commitments. Conventional wisdom says that electric vehicles, clean energy and smart grids will replace fossil fuels.
- Reuters•6 days ago
UK stocks join European rally after ECB signals rate hike further away
Britain's main stock index rose on Thursday after the European Central Bank signalled interest rates would remain steady through next summer, easing investors' concerns about tightening monetary policy. The ECB announced it would end its unprecedented bond purchase scheme by the end of this year, but said it would maintain rates at record lows at least through the summer of 2019. The FTSE 100 (.FTSE) climbed 0.8 percent to a three-week high, having fallen as much as 0.7 percent earlier when a more hawkish rates outlook from the U.S. Federal Reserve weighed on equities.
- Financial Times•7 days ago
[$$] Congo’s Gecamines says foreign miners need to share revenues
The Democratic Republic of Congo’s state-owned mining company has warned foreign miners they will have to share their revenue more fairly or face legal action. Albert Yuma, the chairman of Gecamines, said he expects its joint-venture partners to come to an agreement similar to a deal with Glencore, which will enable the earlier payment of dividends. Earlier this week Glencore agreed to write off $5.6bn of debt in its joint venture with Gecamines, to bring an end to a bitter legal dispute that threatened its ownership of one its key copper and cobalt mines.
- Market Realist•7 days ago
How Much Upside Do Analysts See in Glencore?
Is It Time to Fall in Love with Copper Stocks? In this part, we’ll see how analysts are rating Glencore. Unlike the other copper miners that we’re covering in this series, Glencore is a diversified miner with trading operations.
- Bloomberg•8 days ago
Congo’s Miners Face Harsh New Reality as Mining Law Finalized
Africa’s biggest copper producer and the source of two-thirds of the world’s cobalt -- have just about run out. After six months of lobbying, companies including Glencore Plc and Randgold Resources Ltd. have got nowhere in their battle to push back against the mining law, which voids existing agreements and increases their costs. Congo approved the final part of the bill on Friday, and despite earlier indications from President Joseph Kabila that the rules might be eased, the law hasn’t been weakened in any way.
- The Wall Street Journal•8 days ago
[$$] Glencore Unveils $5.6 Billion Restructuring of Congo’s Katanga Mining
Swiss mining giant Glencore PLC unveiled a sweeping $5.6 billion restructuring of its troubled Congo copper company, Katanga Mining Ltd., resolving a heated dispute with Congo’s state-run mining company about a massive debt load it has built up over the past decade. Glencore said Katanga Mining will issue $5.6 billion in stock, which it will use to retire debt. The move is the latest in a long-running saga involving Katanga Mining, one of Glencore’s flagship Congolese copper mines.
- Reuters•8 days ago
Glencore unit Katanga settles DRC Congo dispute, shares surge
Glencore unit Katanga Mining Ltd (KAT.TO) said on Tuesday it had agreed a recapitalisation plan for 75-percent-owned Kamoto Copper Co with Gécamines, its joint venture partner, involving converting $5.6 billion of Kamoto's debt to equity to fix a capital shortfall. Katanga's shares listed on the Toronto Stock Exchange jumped 23 percent to C$1.28.
- Financial Times•9 days ago
[$$] Glencore writes off $5.6bn to end DRC dispute
The debt-for-equity swap announced after the market close on Tuesday will plug a capital shortfall at the Kamoto Copper Company and end a dispute with Gécamines, the DRC’s state-owned mining company. to dissolve KCC and take control of its mining licences. It claimed Glencore had failed to reduce billions of dollars of intercompany loans, reducing KCC’s ability to pay dividends.
- Bloomberg•9 days ago
China Inc. Takes Another Bite of Congo's Copper Mining Riches
China is making another big bet on copper in the Democratic Republic of Congo, deepening its presence in a country that’s proved very difficult for Western business. Congo holds huge reserves of copper, but is also one of the hardest countries to navigate -- with problems with security, transparency and infrastructure. A case in point is Glencore Plc, the biggest producer of copper in Congo.
Reuters•12 days agoGlencore faces additional legal challenge over Congo mine
A Congolese-American businessman is seeking more than $1 billion (£745.5 million) in a Congo court from two Glencore (GLEN.L) executives and their ex-partner in a copper and cobalt mine, saying they defrauded him when he relinquished his shares, a court document showed. In a statement on Friday, Glencore denied Charles Brown's allegations, made in a summons in March, against Glencore CEO Ivan Glasenberg and senior executive Aristotelis Mistakidis. It said the company had had "no interactions whatsoever with Mr. Brown" and that his accusations are "vexatious and baseless".
- Reuters•12 days ago
Glencore faces additional legal challenge over Congo mine
A Congolese-American businessman is seeking more than $1 billion in a Congo court from two Glencore executives and their ex-partner in a copper and cobalt mine, saying they defrauded him when he relinquished his shares, a court document showed. In a statement on Friday, Glencore denied Charles Brown's allegations, made in a summons in March, against Glencore CEO Ivan Glasenberg and senior executive Aristotelis Mistakidis. It said the company had had "no interactions whatsoever with Mr. Brown" and that his accusations are "vexatious and baseless".
