Glencore

Glencore may be forced to shut down giant zinc mine in Australia

Cecilia Jamasmie | August 28, 2015
Glencore may be forced to shut down giant zinc mine in Australia

The Northern Territory Chief Minister has threatened to close Glencore's McArthur River operation if the miner does not improve its environmental practices.

China fresh sell-off sends commodities, markets to the pits

Cecilia Jamasmie | August 24, 2015
China fresh sell-off sends commodities, markets to the pits

The US has suspended the futures market on the Nasdaq index, as panicking traders have driven it down 5% — the maximum allowed under Wall Street rules.

Glencore stock getting hammered as China slowdown, commodities rout hit profit

Cecilia Jamasmie | August 19, 2015
Glencore stock getting hammered as China slowdown hits profit

The world's leading commodity trader stock slumped to a record low Wednesday after it revealed it swung to a steep first-half loss of $676 million.

Glencore plans to shut Eland platinum mine in South Africa, union says

Cecilia Jamasmie | August 18, 2015
Glencore plans to shut Eland platinum mine in South Africa, union says

The company had said in June it lacked the inside edge to make owning the precious metal worthwhile.

Glencore sells stakes in three assets, gets only $290 million

Cecilia Jamasmie | August 14, 2015
Glencore sells stakes in three assets, gets only $290m

Investors weren't happy with the news. The stock dropped to record lows Friday, becoming the top loser on FTSE 350 mining index.

Glencore hit by $790 million writedown, cuts spending

Cecilia Jamasmie | August 13, 2015
Glencore hit by $790 million writedown, cuts spending

The company's action on spending follows sharp falls across commodity prices this year.

Commodities, mining stocks sinking as China devalues its currency again

Cecilia Jamasmie | August 12, 2015
Commodities, mining stocks sinking as China devalues its currency again

But gold is, so far, profiting from the situation, heading for its longest winning streak in three months.

China's devaluation of Yuan hits miners, commodities

Cecilia Jamasmie | August 11, 2015
China's devaluation of Yuan hits miners, commodities

The decision of the People's Bank of China (PBOC) to devalue the yuan by 1.9% sent most mining stocks and commodities down the slippery slope.

South Africa lets Glencore resume operations at Optimum coal mine

Cecilia Jamasmie | August 7, 2015
South Africa lets Glencore resume operations at Optimum coal mine

Mining Minister Ngoako Ramatlhodi has decided to conditionally withdrew a licence suspension ordered earlier this week.

China planning to step up controls on coal imports — report

Cecilia Jamasmie | July 28, 2015
China planning to step up controls on coal imports — report

As 85% of Chinese thermal coal producers and 35% of miners focused on the metallurgical kind are now running at a loss.

Glencore to slash 380 coal jobs in South Africa

Cecilia Jamasmie | July 22, 2015
Glencore to slash 380 coal jobs in South Africa

It had said in January that the closure of its Optimum coal mines would put over 1,000 jobs at risk.

Zambia mining industry says new rules to scare investors, deter local processing

Cecilia Jamasmie | July 16, 2015
Zambia mining industry say new rules to scare investors, deter local processing

The Chamber of Mines wants the government to reconsider its decision to hike corporate income tax rate on mineral processing from 30% to 35%, which came in effect July 1.

Cecilia Jamasmie

Iron ore prices: the worst is yet to come

Cecilia Jamasmie | July 9, 2015
Iron ore prices: the worst is yet to come

Despite the rosy outlook from Australia’s top iron ore producers, they are all facing staggering demand from their biggest customer — China.

Davis’s X2 Resources goes after Rio’s coal assets in Australia

Cecilia Jamasmie | June 30, 2015
Davis’s X2 Resources goes after Rio’s coal assets in Australia

Negotiations between the parties, still at an early stage, are said to have generated solid interest from both sides.

Zambia to slash royalties, reinstate mining tax

Cecilia Jamasmie | June 24, 2015
Zambia to slash royalties, reinstate mining tax

The move puts an end to a nearly nine-month standoff that has hit output and profits in Africa’s second largest copper producer.

Glencore to pay new entity in global chain to market coal

Sydney Morning Herald | June 22, 2015

Swiss-based mining giant Glencore says it will pay a new entity within its global chain to market and distribute its coal as it moves to close its Singapore office.

Lonmin shares collapse as Glencore completes stake divestment

Cecilia Jamasmie | June 11, 2015
Lonmin shares collapse as Glencore completes stake divestment

The move may create a group of sellers that want to dispose of their holding, or it could open the door to a buyer, according to analysts.

Zambia sells stake in state-owned copper miner

Cecilia Jamasmie | June 10, 2015
Zambia sells stake in state-owned copper miner

The country's national pension fund has bought 15.9 million shares of Zambia's Consolidated Copper Mines-Investment Holdings for almost $80 million.

Zambia mulls cutting mining royalties even further

Cecilia Jamasmie | June 3, 2015
Zambia mulls cutting mining royalties even further

Mines minister Christopher Yaluma said reducing royalties below the recently revised 9% would make underground mining more cost effective.

Cleaner coal technologies vital to reducing CO2 emissions

World Coal Association | June 1, 2015
Cleaner coal technologies vital to reducing CO2 emissions

The World Coal Association's chairman and Glencore executive, Mick Buffier, has called governments to increase investment in low emission technologies.

Eighty coal jobs gone in Queensland

Michael Allan McCrae | May 31, 2015
Glecore's Collinsville coal cuts jobs Australia Queensland

One-quarter of the company's workforce.

Glencore lines up $15.25bn to refinance existing loans

Cecilia Jamasmie | May 29, 2015
Glencore lines up $15.25bn to refinance existing loans

A total of 60 banks committed to the financing, including 34 mandated lead arrangers and bookrunners.

South Africa doesn’t have enough coal for power plants beyond 2016

Cecilia Jamasmie | May 27, 2015
South Africa doesn’t have enough coal for power plants beyond 2016

Main power utility, Eskom, is struggling to meet demand in a country that depends on coal to generate 85% of its electricity.

Global gold, copper, iron ore output down in Q1 — report

Cecilia Jamasmie | May 19, 2015
Global gold, copper, iron ore output down in Q1 — report

Much of the overall decline in reported gold output was due to a significant quarter-on-quarter production declines from AngloGold Ashanti, Goldcorp, and Sibanye Gold.

Glencore under fire on Colombia coal mines

The commodity and mining firm is battling activists who allege its Colombian coal mines have whisked profits out of the country, while causing environmental and labor issues.

Glencore CEO says rivals pushing mining sector into confidence crisis

Cecilia Jamasmie | May 12, 2015
Glencore CEO says rivals pushing mining sector into confidence crisis

Ivan Glasenberg has once again slammed his competitors, who he accuses of damaging the credibility of the mining industry.

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