Northam Platinum’s strategy of buying additional mines, as its strives to become a 1-million ounce a year platinum group metals producer, netted it Glencore’s Eland Platinum mine for R175m cash.
Glencore Mining News
Wall of copper supply never materialized, nickel market recorded first deficit since 2010 and zinc, lead will only get tighter in 2017.
A surge in commodity prices combined with its multibillion-dollar asset fire-sale has put the company in a position to pay big dividends and explore acquisitions.
Glencore is upping its presence in the African mining landscape through the purchase of stakes in two mines it already partially owns.
Mines Minister Martin Kabwelulu said he “didn’t believe” the government needed to authorize changes in ownership in that or any project.
The Swiss firm already has a 69% stake in the DRC mine, which jointly owns with Israeli mining tycoon Dan Gertler.
After buying ought out its two Japanese partners, Itochu Corp and Sumitomo Corp.
Soaring coal prices have helped Glencore, the world’s biggest provider of the thermal kind, straighten its balance sheet.
Global Witness: Royalty stream from Glencore's KCC copper-cobalt operation transferred to offshore company controlled by Israeli billionaire Dan Gertler.
The most-traded coking coal for January delivery on the Dalian Commodity Exchange soared 10% to 1,516 yuan ($224) a tonne, a record high.
While output was down for most commodities it mines and sales, it has improved earnings forecast for its trading unit.
The move comes only a few days after it resumed operations at Collinsville mine in Australia's Queensland state.
This is probably the headline most people who have lost their jobs in the last two years were dying to read.
Black Star deposit at Mount Isa in Australia depleted after 13 years of operation.
Congo began reviewing its mining code in 2012, aiming to increase state revenues and tighten environmental and social regulations, but it has yet to make a decision about it.
Glencore has already restarted its Collinsville mine in Queensland and there are at least seven other coal operations set to resume production before year-end.
With the deal, the Swiss group is only a step away from meeting chief executive Ivan Glasenberg’s target of $5bn in assets sales this year.
Current price could bring idled production back and bulky new projects are coming online soon.
Rodolfo Illanes (56) was kidnapped Thursday, tortured and beaten to death according to officials.
Despite a rebound in commodity prices and successful costs cuts, Glencore remained in the red in the six months to end-June.
The McArthur River mine in Australia is looking at a nine-figure clean-up bill, says a new report on one of the world's largest producers of lead, zinc and silver.
The country began shipping lithium to China this week, in what is considered the first step towards fulfilling its ambitions to becoming the world’s No. 1 exporter of the commodity.
Beijing cuts off power to 26 mines in key Chinese zinc, lead production region.
Bolivia seized three of Glencore’s operations in nine years and the Swiss giant is now initiating arbitration proceedings against the South American nation.
Report says Swiss miner was unable to get the $500 million plus it wanted for the Chilean copper mine.