Glencore Mining News

Glencore, China Moly face higher cobalt royalty taxes in Congo

The Democratic Republic of Congo will declare cobalt a strategic metal, imposing a 10 percent royalty tax on producers.

How Anglo quietly built a commodity trader in Glencore's shadow

In just five years, Anglo assembled marketing operations that now sell more metals than the company produces.

Glencore-led Australian coal port wins court nod on $3.2B debt refinancing

It will now have the maturity of $2.6 billion in senior debt extended from this month until September 2026, court documents showed.

Copper deal day hits with a flurry of M&A for the hottest metal

“Everyone loves copper and everyone wants to buy it” has been this year’s mining mantra. Today the ball started rolling.

South African watchdog approves Glencore's bid for Chevron assets

Deal is for Chevron's local and Botswana assets.

DRC miners form new body to fight mining code

The Mining Promotion Initiative's main goal is to engage the government on industry concerns about the country’s new mining code.

Mining and metals markets crater as copper price enters bear market

Investors found no solace in traditional safe haven gold with the precious metal setting a one-and-a-half year low.

Japan utilities, Glencore set annual coal contract at $110/T

Japanese utilities and global mining giant Glencore have settled an Australian thermal coal import contract for April 2018-March 2019 at $110 a tonne.

Glencore credits China's 'Blue Skies' program for strong H1

Protectionism could limit future growth.

Coal miners to see improved finances: Fitch

The market research firm states that despite coal being an increasingly targeted commodity on environmental protection grounds, the demand remains strong.

Glencore’s cobalt output up by almost a third thanks to Congo mines

Glencore is the world’s No. 1 cobalt miner, while Congo is the largest producer of the key component for batteries that power electric vehicles.

Nickel is new headache for automakers as cobalt fears abate

Locking in supplies of key battery raw materials lithium and cobalt has been a headache for electric car manufacturers, but these days it’s the supply of nickel and graphite that’s keeping them up at night.

Amplats reports jump in H1 earnings, buys Glencore's stake in Mototolo platinum mine

Anglo American Platinum kept the dividend tap flowing as it reaps the benefits of a pivot to mechanised mining that has lifted productivity and cut costs.

World's biggest miners want more copper but nobody's selling

Nobody who owns a copper mine wants to give it up. Even when Glencore and Anglo American Plc were crippled by debt during the 2015 commodity slump, neither was willing to entertain an offer from Rio for their holdings in the giant Collahuasi deposit in Chile.

Glencore shareholders mull suing firm over corruption, bribery probes

They claim mounting investigations into the firm’s dealings in the DRC, where it’s heavily invested, has made the stock collapse and investors may seek compensation for the losses caused by it.

US probe darkens Glencore horizons from Africa to Americas

Investigation is casting a wider net with the addition of Venezuela and Nigeria to its investigation, increasing the likelihood that Glencore’s management will get bogged down in a lengthy legal process.

Glencore hammered as US requests documents in corruption probe

Shares fell as much as 13% after the miner and commodities trader was told by US Department of Justice to produce documents on Nigeria, Congo and Venezuela.

Congo court suspends hearing on Glencore-owned cobalt mine

Until last month, Glencore was fighting three lawsuits in Congo that called into question its control of its prized copper and cobalt mines.

Mining investors spooked as African dispute payments multiply

Miners across Africa are increasingly using one-time payments to settle disputes with governments, a trend that’s disturbing some investors.

Glencore bets on South Africa as Ramaphosa promises revival

As the company’s former business partner and new President Cyril Ramaphosa promises an economic recovery, Glencore is reaping profits.

Zambia aiming for power prices that reflect costs by end 2018

The new measure will affect global mining firms including First Quantum Minerals, Glencore, Barrick Gold Corp and Vedanta Resources which currently pay a flat rate of 9.30 cents/kWh.

Ten killed in Zambia copper mine dump collapse — police

Another 10 are injured after a dumping site for copper mining waste collapsed in the town of Kitwe in the country's Copperbelt province

US-China trade spat wipes $57B from top mining stocks in fortnight

Copper, iron ore prices drop, mining majors punished as US threatens more tariffs on "predatory" Chinese imports and Beijing calls it "blackmail".

Trump trade war blows up big week for mining majors

A week choc-a-bloc with billion dollar copper, iron ore and cobalt deals ends with huge drop in prices and sell-off in stocks of mining's biggest names.

Glencore's great game is avoiding US sanctions: Chris Bryant

Glencore says its subsidiaries will pay Gertler what he’s owed, only the funds will be transferred in euros and U.S. citizens won’t be involved.