Glencore Mining News

Happy day for miners: shares up by levels not seen since 2008

The biggest winner was Anglo American (LON:AAL), which briefly posted its biggest ever one-day percentage gain, closing later still 15% up compared to the previous session.

South Africa’s opposition claims Glencore ‘forced’ to sell coal mine

The country's biggest opposition party said the mines minister and state power utility made Glencore sell its Optimum coal operation.

Moody's puts 175 energy and mining firms on review as low prices bite

Top miners BHP Billiton, Rio Tinto, Vale and Anglo American are among the firms at risk of rating downgrade.

Oil, Asian stocks rout deepen miners wounds

Miners suffering fresh sell-off as oil price falls and the IMF lowers growth forecast for China, rattling investors.

This is what a mining, metals market meltdown looks like

Three of the world's top mining companies are now trading over 90% below their boom year highs as the 2016 commodity sell-off gathers pace.

Ex-Barrick CEO said to offer $1bn for Glencore mine

Aaron Regent "is competing against a small number of Chilean-focused operators" for Glencore's Atacama copper mine according to reports.

Chile mulls scrapping copper funding for military

Codelco chairman, Oscar Landerretche, wants the government to scrap the country’s Copper Law, which forces the firm to give 10% of its annual export revenue to the Armed Forces.

Copper prices falling like it's 2009

The fresh collapse dragged main producers down, with BHP Billiton, the world’s largest miner, hitting a decade-low.

Morgan, Sachs, Glencore have lawsuit against zinc price conspiracy dismissed

Two of the largest banks in the world and the biggest commodities trader have been found to be innocent of claims that they fixed zinc prices.

China rings in 2016 with a stock market crash

Gold and oil benefited from the collapse, while base metals and most diversified miners suffered from it.

Chile’s copper miners still making money despite price collapse

Official figures contradict recent local reports showing that most copper miners in the country are barely breaking even at current metal prices.

Codelco eyes $600 million in savings, more job cuts in 2016 as copper in the pits

Chief executive Nelson Pizarro said output will, however, remain untouched.

Investors going crazy for world no 1 commodity company

For all the wrong reasons.

Glencore axes jobs, coal output at Australia’s mine as price collapses

The company will start cutting nearly 80% of its workforce at its Collinsville coal mine in March next year, as it dials back mining at the site.

World’s two biggest miners walking away from coal, but they are not telling

BHP Billiton and Rio Tinto have significantly cut their investments in coal, while repositioning behind the scenes.

Glencore could sell its troubled South African Optimum coal mine

Glencore's struggling South African unit, Optimum, which is currently embroiled in a dispute over the price of coal with power utility Eskom could be sold off, a firm appointed to rescue the troubled business said.

Mining majors capitulate as metals rout continues

World's five largest mining companies together have lost an astonishing $570 billion in market value since 2011–the worst period of performance since 1966.

Most copper producers in Chile barely breaking even — mining group

The ongoing slump in copper prices spells trouble for Chile's mining industry, where most medium-sized producers are already unable to make a profit.

Glencore shares soar on faster than expected debt reduction

The stock ignored news from Zambia where President Edgar Lungu said he would not allow the firm to lay off workers at its Mopani Copper Mine, as it mothballs it for 18 months.

Silver Wheaton pays $900m for Glencore silver stream

The Vancouver-based streaming company says the deal immediately adds expected average silver production of 5.1 million ounces per year.

Chile’s Codelco lays off over 4,000 workers

The drastic move makes of Codelco the mining company that has let go the highest amount of workers in Chile since copper prices began their decline over a year ago.

Mining industry value drops below one trillion dollars

In 2011, during the peak of the so-called “mining boom”, the sector was worth nearly US$2.5 trillion.

Codelco vows not to cut copper output even if prices keep falling

The world's No.1 copper miner will keep output targets and won't make major changes to its $25 billion investment plan.

S. Africa's main coal union accepts wage offer, ends strike

The National Union of Mineworkers (NUM) and the Chamber of Mines, which has been negotiating on behalf of the country’s main coal producers, will sign the agreement later today.

Another two copper mines added to Glencore fire sale

Glencore's Cobar in New South Wales and Chile operation Lomas Bayas could fetch anything between $500m and $1 billion.