Glencore

Glencore stockpiles zinc, tightens grip on global market

Commodity trader Glencore is tightening its grip on the global zinc market by moving material to inaccessible locations, forcing industrial users to pay high physical premiums for a metal that is in surplus.

Collapse in Canadian mining deals in midst of global uncertainty

While 2011 was a near-record year for mining mergers and acquisitions (M&A), with over 2,600 deals worth $149 billion in the global mining sector, 2012 is not looking so good, at least not for Canada. The value of mining M&A tumbled 50% in the first quarter compared to the prior three months, with only one deal over $1 billion, said KPMG in a report.

Global miners will fight advance of resource nationalism – Glencore CEO

Glencore CEO Ivan Glasenberg told a conference in Switzerland that mining companies will fight resource nationalism by pulling out of countries where they feel demands are too onerous.

Xstrata copper production down, but Q1 financial performance solid

Anglo-Swiss Xstrata Plc. (LON:XTA) reported today mixed production results for its first quarter, with copper production declining 18%, but said operating and financial performance remains strong.

Glasenberg – 1, Xstrata shareholders – 0

The $2.6 billion Qatari investment could provide Glencore CEO Ivan Glasenberg the necessary backing he needs to push through the deal which many Xstrata shareholders say sell them short.

Russian billionaires clash over $47 billion aluminum supply deal

Sual Partners Group, owned by Russian billionaire Viktor Vekselberg, is suing Rusal, the world's top aluminum producer and commodities giant Glencore over an aluminum supply deal worth some $47 billion.

Glencore said to hold conference call for bond investors

Glencore’s “aggressive financial and acquisition policy” has been a “recurring credit weakness.”

Glencore to buy Canada’s Viterra for $6.1 billion

Commodity giant Glencore International PLC has reached a $6.1-billion deal to buy Canada’s grain handler and agricultural retailer Viterra Inc., and announced plans to sell most of its Canadian assets to Agrium Inc. and Richardson International Ltd.

Canadians could join Glencore in Viterra bid

News media reports say western Canadian agri-business companies Agrium and Richard may be joining Glencore in a rumored US$5.49 billion bid for Viterra.

European giant Glencore eyeing Canada’s Viterra

Glencore (GLEN.L) is one of a handful of parties eyeing a potential bid for Viterra (VT.TO), Canada's largest grain handler, as the diversified trading house looks to boost its agricultural presence, a Swiss-based industry source said on Monday.

Glencore perplexed by Zambia copper plant closure, to testify before UK parliament's tax avoidance inquiry

Glencore on Monday expressed surprise over health and environment officials in Zambia's decision to immediately close a Mopani copper operation over complaints from residents of a nearby town. The London-listed commodities giant is also set to appear before a British inquiry over tax avoidance in the developing world.

Green Monday: Glencore dividend payout gives Glasenberg a $110 million pay day

Ivan Glasenberg, CEO of  Glencore International stands to receive dividends worth roughly $110 million on Monday when the commodities giant announces its maiden full-year payment to shareholders.

Glencore International to buy near 8% stake in junior zinc miner Trevali

Canadian junior zinc miner Trevali Mining (TSX:TV) said Thursday Switzerland-based commodities trader Glencore International (LON:GLEN) has agreed to buy a 7.8% stake in the zinc miner through a private placement financing worth US$18 million.

BHP sees little impact from Glencore, Xstrata merger

The world's biggest miner, BHP Billiton (Hamburg: BHP1.HM – news), said Wednesday the planned blockbuster merger between Glencore and Xstrata (Dusseldorf: XTR.DU – news) would not impact on its strategy.

Xstrata and Glencore to close $90bn merger

After months of speculations and secret negotiations, Xstrata PLC (LON:XTA) and Glencore International PLC (LON:GLEN) have formally announced an all-share merger that would create a $90bn giant named "Glencore Xstrata International PLC."

Top shareholders gunning for Xstrata's Big Mick, could block deal without premium

The Telegraph reports Chairman John Bond and CEO Mick Davis risk being voted off the board of Xstrata after being accused of negotiating "a cosy stitch-up" with Glencore and that other major shareholders have threatened to block the deal altogether if the Swiss commodities giant does not offer a "substantial premium."

"Glenstrata" could flex muscles in iron ore

The $80 billion proposed merger of commodities trader Glencore and Swiss-based miner Xstrata could lead to a fresh round of acquisitions in iron ore, Reuters is reporting today.

Xstrata and Glencore went from dating to a (more) serious relationship

The long-term fling between mining group Xstrata PLC (LON:XTA) and commodities trader Glencore International PLC (LON:GLEN) is getting serious. In a statement in response to increasing speculation about an upcoming merger, Xstrata confirmed today that it is in negotiations with Glencore.

Glencore enters agreement to acquire stake In Rosh Pinah Zinc

Glencore International plc today announced that a subsidiary has entered into an agreement with Exxaro Base Metals and Industrial Holdings (Proprietary) Limited to acquire Exxaro’s entire 50.04 per cent shareholding in Rosh Pinah Zinc Corporation (Proprietary) Limited, a zinc mining business in Namibia.

Glencore ends $475 million proposal to buy Peru copper mine

Glencore International Plc, the biggest publicly traded commodities trader, ended a proposal to buy a majority stake in a South American copper project for $475 million, CST Mining Group Ltd. (985) said.

Glencore picks off 15% stake in Optimum Coal Holdings

Global commodities trader Glencore (LON:GLEN) is making inroads into South African coal.

Reuters reports that Glencore has signed a deal to buy energy trader Mercuria's 15 percent stake in South Africa's Optimum Coal Holdings (OCH) in its drive to acquire the whole company worth around $1 billion, sources close to the agreement said.

Completing the Optimum acquisition would make Glencore South Africa's fourth-largest coal exporter, without including Xstrata's tonnage, for which it provides advisory services.

Optimum Coal says alternative bidder withdraws

JSE-listed Optimum Coal, which Glencore and local businessperson Cyril Ramaphosa want to buy, said on Friday that an alternative bidder has withdrawn its interest in acquiring a controlling stake in the miner.

Could Glencore become an iron ore miner?

Could the world's largest commodity trading firm dirty its hands by becoming an iron ore miner? The answer, according to a report this week in Marketwatch, is a strong maybe.

Marketwatch reports the Swiss-based company's CEO, Ivan Glasenberg, saying that Glencore will look to grow its presence in iron ore via marketing opportunities and equity investments:

Glencore bids for Australian nickel miner

Shares of Minara Resources jumped 36% today on news of a takeover bid by Swiss-based commodities trader Glencore Resources.

Glencore, which went public in May with an astonishing $11 billion IPO, is seeking to buy a minority position in Minara, of which it already owns 73.4%, for AU$268 million.

Glencore said to be mulling $20 billion ENRC takeover

According to a detailed report in the U.K.'s Sunday times newspaper, Global mega commodities group, Glencore, which recently listed in the London stock Exchange's largest ever IPO, is considering a what appears to be a £12 billion (US$20 billion) friendly takeover of European-based diversified mining and metals company, ENRC (Eurasian Natural Resources Corporation). If such a move takes place this would convert Glencore from the world's largest commodities trading group into one of the globe's biggest integrated mining and metals companies – even without taking into account its 35% stake in Xstrata.