Wednesday, February 12, 2025

Glencore News

Trump relaxes the enforcement of US laws that prohibit bribery by foreign officials

Donald Trump, the U.S. president, signed an executive order on Monday directing that the Justice Department halt prosecutions against Americans accused of bribing officials of foreign…

Africa's biggest copper countries are focusing on trade profits

Africa's largest copper producers, Democratic Republic of Congo (DRC) and Zambia (Zambia), are working to get exposure to metal trading, as the surge in demand linked to artificial…

Glencore announces lower metals production by 2024

Glencore reported Thursday that it would lower its copper, cobalt and zinc production, as well as thermal coal, by 2024 in line with the guidance. The company reported that it would produce 951,600 tons of copper by 2024.

FTSE 100 drops as a stronger sterling hurts export-focused companies; Burberry soars

The UK's FTSE 100 fell on Friday as a rise in sterling hurt firms that export. Burberry, however, soared, after a strong U.S. Holiday season helped the luxury company beat its quarterly sales targets.

Glencore opens to deals as investors prepare for more mining M&A

Glencore, the commodity and miner trader, said that it was open to M&A deals that created value for its investors. It is leveraging its position in the top three producers of copper globally.

Six US LNG cargoes diverted to Europe by LNG traders

Analysts and shipping data indicate that traders diverted six cargoes of LNG bound for Asia into Europe in the first half of this month due to higher European prices, and weaker Asian demand.

Rio Tinto shares fall on merger failure reports; banks weigh down on Australia's shares

The Australian share market fell Friday due to the fall in banking stocks, and Rio Tinto's decline on news of failed merger talks with Glencore. The S&P/ASX 200 ended the week 0.2% lower, at 8,310.4.

Glencore's and Rio Tinto’s mining operations

A person familiar with this matter stated that Glencore had approached Rio Tinto in late 2013 about merging the two major copper producers. However, the talks are no longer ongoing.

British Business - January 17

These are the most popular stories in the British business pages. These stories have not been verified and we cannot vouch for the accuracy of these reports. BP announced on Thursday…

Australian shares flat: Rio Tinto drags down miners after merger talks

Australian shares were flat on Friday. Gains in healthcare companies were offset by losses among miners. Rio Tinto fell on speculation about early merger talks with London listed smaller rival Glencore.

Bloomberg News: RPT Rio Tinto and Glencore are in early merger talks

Bloomberg News reported Thursday that Glencore and Rio Tinto have had early-stage discussions about merging their businesses. The report was based on people familiar with this matter.

Bloomberg News reports that Rio Tinto and Glencore are in early merger talks.

Bloomberg News reported Thursday that Glencore and Rio Tinto have had early-stage discussions about merging their businesses. The report was based on people familiar with this matter.

Canadian farmers warn Bunge Viterra's takeover of Bunge will reduce competition

Farmers say that Canada's approval for Bunge's $34 billion takeover of Glencore's Viterra by U.S. grain traders Bunge will reduce their ability to sell crops at competitive rates and…

Peru's No. Adolfo Heeren is named new CEO of Antamina, Peru's No.

Antamina is the second largest copper mine in Peru. It announced on Thursday that Adolfo Héren was appointed as its new CEO and General Manager. Heeren will take over the role of CEO for Anglo American Peru on February 1…

Glencore reports lower metals production for the first nine months and reiterates outlook

Glencore reported on Wednesday lower production of copper, cobalt and zinc for the first nine-month period, but it reiterated its expectation that its trading profit would reach the upper end of its long-term target range…

Escondida copper output at BHP and Codelco is up in October.

Data from the copper commission Cochilco on Tuesday showed that Chile's state copper miner Codelco posted flat production in the month of October, compared with the same period last year…

Norway's wealth fund will probe shoemakers and crypto firms in 2025 for ethics

Next year, the Norwegian sovereign wealth fund will investigate the potential ethical violations of shoemakers, crypto-firms and gambling operators that the fund holds, leading it to sell its holdings.

Teck Resources Q3 profits beat estimates due to higher copper production

Teck Resources, a Canadian mining company, beat its third-quarter profit expectations on Thursday thanks to higher copper production at the Quebrada Blanca mine. According to LSEG,…

Canada approves Bunge-Viterra merger worth $34 billion with conditions

Canada approved Bunge's $34 Billion merger with Glencore-backed Viterra on Tuesday, subject to conditions. This was the last remaining obstacle for an unprecedented global agricultural tie-up.

Cargill, a giant in the commodities trading industry, plans to reduce around 8,000 positions

Cargill, a global trading company, announced on Tuesday that it will cut 5% or 8,000 jobs from its workforce. Revenues in the most recent fiscal period were down due to low crop prices.

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