"We will meet with the company... after a request from them to present a new offer, the fourth in this negotiation," said the Sintracarbon union president.
Glencore Mining News
Aristotelis Mistakidis will lose control of industrial copper operations including mines and focus on the trading side of the business.
“From the macro point of view, this is not an environment where you’d want to be shorting metals.”
The nation, responsible for about two thirds of global output, plans to increase tax on cobalt to 5% from 2%.
The World Bank-supported mining legislation was introduced to attract investment into copper and cobalt projects from global miners including Glencore Plc, Freeport-McMoRan Inc. and China Molybdenum Co. Gécamines claims country has not benefited from it.
The mining cycle turned two years ago – gains for the sector's largest companies have far outpaced stocks like Apple, Amazon, Google and Facebook since.
Unionized workers at Glencore's Lomas Bayas copper mine rejected a final contract offer and began government-facilitated mediation Thursday to avoid strike.
A sale would allow Rio to complete its exit from coal and continue an asset divestment program that has returned more than $7 billion since 2013.
The political shifts are good news for the likes of BHP Billiton Ltd., Rio Tinto Group, Glencore Plc and Anglo American Plc.
French bank Natixis has broadened its $32 million lawsuit over fraudulent receipts for nickel stored at warehouses in Asia by adding a unit of commodities giant Glencore as a defendant, a court filing showed.
Glencore can't take full credit for bull surge of last 2 years but its curtailments acted as powerful accelerator to structural shift toward supply deficit.
Glencore's all in to supply surging demand for copper, nickel and cobalt from electric vehicle boom but CEO Ivan Glasenberg has "zero interest" in lithium.
Uniquely among its peers, Glencore derives a substantial slice of its earnings from trading commodities, rather than producing them.
Top zinc producer Glencore's total output to dip next year despite restarting its Australian mine.
Glencore's Toronto-listed Katanga Mining subsidiary set to produce nearly a third of world's cobalt, as prices of battery metal more than doubles.
Glencore said on Tuesday its Katanga mine in the DRC produced its first copper cathodes on Monday as it restarts after output was suspended in 2015.
Glencore said on Tuesday it expected zinc output to fall slightly in 2018 to around 1.09 million tonnes versus 1.1 million tonnes this year.
The company also confirmed its 2018 dividend policy would include a fixed dividend of $1bn and said it would reactivate idled capacity "when appropriate".
Monday, mining companies in the DRC said that proposed changes to mining code adopted by lower house of parliament would do lasting damage to investment.
These new labor agreements with workers at 13 of its coal mines in Australia end months of negotiations over wages and benefits.
BaseCore Metals will be independently operated and have its own board of directors.
Glencore has increased production of the metals used to make electric car batteries faster than its major mining rivals, according to an industry-wide analysis that shows the scale of a strategy that has big prospective risks and rewards.
Miner has one of biggest deficit outlooks on back of steel use; firm doesn’t expect material EV impact on nickel until 2020.
Katanga, which operates cobalt and copper mines in the DRC, said Aristotelis Mistakidis, Liam Gallagher and Tim Henderson had tendered their resignations.
The Swiss commodity giant is reportedly finalizing a $700-million deal with the Ontario Teachers’ Pension Plan to create a new base-metals royalty vehicle.