Edition:
India

Glencore PLC (GLEN.L)

GLEN.L on London Stock Exchange

235.10GBp
22 Jan 2020
Change (% chg)

-2.90 (-1.22%)
Prev Close
238.00
Open
238.95
Day's High
239.10
Day's Low
232.85
Volume
25,693,426
Avg. Vol
31,816,136
52-wk High
343.90
52-wk Low
212.10

Latest Key Developments (Source: Significant Developments)

Far Ltd Signs MoU With Glencore
Wednesday, 22 Jan 2020 

Jan 22 (Reuters) - FAR Ltd ::SIGNED A BINDING MEMORANDUM OF UNDERSTANDING ("MOU") WITH GLENCORE ENERGY (UK) LTD.MOU FOR FULL ALLOCATION OF COMPANY'S SHARE OF CRUDE OIL FROM SANGOMAR FIELD.OFFTAKE EXPECTED TO BE FOR A PERIOD OF 7 YEARS FOLLOWING FIRST OIL WITH A MINIMUM OF 20 MILLION BARRELS EXPECTED TO BE PRODUCED DURING THAT TIME.WORK CONTINUES ON PLANS FOR DEVELOPMENT OF GAS IN SANGOMAR FIELD AND A CONCEPT SELECT DECISION IS LIKELY TO BE MADE BY JV IN Q3 OF THIS YEAR.SANGOMAR DEVELOPMENT PHASE 1 CAPITAL EXPENDITURE & OPERATING EXPENDITURE ESTIMATES REMAIN UNCHANGED.SANGOMAR FIELD JV IS TO FINALISE A REVIEW OF ALL SOCIAL INVESTMENT PARTNERS FOR 2020-2022 IN THE NEXT MONTH.  Full Article

Merafe Begins Consultation Process At LRA Rustenburg Smelter
Monday, 20 Jan 2020 

Jan 20 (Reuters) - Merafe Resources Ltd ::CONSULTATION PROCESS IN TERMS OF SECTIONS 189 AND 189A OF THE LRA: RUSTENBURG SMELTER NW PROVINCE SOUTH AFRICA.WRITTEN NOTICE HAS BEEN GIVEN TO ITS EMPLOYEES AT RUSTENBURG SMELTER, WHICH IS A JOINT VENTURE BETWEEN MERAFE AND GLENCORE ALLOYS.RUSTENBURG SMELTER HAS SUFFERED MATERIAL FINANCIAL LOSSES WHICH ARE EXPECTED TO CONTINUE FOR FORESEEABLE FUTURE.PARTIES WILL APPLY FOR APPOINTMENT OF FACILITATOR FROM COMMISSION FOR CONCILIATION, CCMA IN CONSULTATION PROCESS.CONSULTATION PROCESS DUE TO "DETERIORATING" OPERATIONS AND MARKET CONDITIONS ACROSS SOUTH AFRICAN FERROCHROME INDUSTRY.RECOGNISED TRADE UNIONS OF RUSTENBURG SMELTER AS AN ONGOING PROCESS AND ALL ALTERNATIVES WILL BE CONSIDERED.  Full Article

Glencore Says Qtrly Own Sourced Copper Production Fell 4% To 1 Mln Tonnes
Friday, 25 Oct 2019 

Oct 25 (Reuters) - Glencore PLC ::GLENCORE PLC - THIRD QUARTER 2019 PRODUCTION REPORT.GLENCORE - QTRLY OWN SOURCED COBALT PRODUCTION OF 34,400 TONNES WAS 5,900 TONNES (21%).GLENCORE - QTRLY OWN SOURCED COPPER PRODUCTION OF 1,015,800 TONNES WAS 47,300 TONNES (4%) LOWER THAN COMPARABLE PRIOR PERIOD.GLENCORE - QTRLY OWN SOURCED ZINC PRODUCTION OF 809,200 TONNES WAS 23,100 TONNES (3%) HIGHER THAN COMPARABLE PRIOR PERIOD.GLENCORE - QTRLY COAL PRODUCTION OF 104.0 MILLION TONNES WAS 7.3 MILLION TONNES (8%) HIGHER THAN COMPARABLE PRIOR PERIOD.GLENCORE - QTRLY OWN SOURCED NICKEL PRODUCTION OF 89,400 TONNES WAS SLIGHTLY (2%) LOWER THAN COMPARABLE PRIOR PERIOD.GLENCORE - QTRLY ENTITLEMENT INTEREST OIL PRODUCTION OF 3.6 MILLION BARRELS WAS 0.3 MILLION BARRELS (8%) HIGHER THAN COMPARABLE PRIOR PERIOD.GLENCORE - SEES FY AFRICAN COPPER PRODUCTION 375 +/- 15 KT.GLENCORE - SEES FY 2019 COBALT PRODUCTION 43+/-3KT.GLENCORE - SEES FY COAL PRODUCTION 145 +/- 3 MT.GLENCORE - SEES FY 2019 COPPER EXCLUDING AFRICAN COPPER PRODUCTION 1,010 +/ - 25KT.GLENCORE - SEES FY 2019 ZINC PRODUCTION 1,110 + / - 25KT.GLENCORE - SEES FY OIL PRODUCTION 5.5 +/- 0.2 MBBL.GLENCORE - SEES FY 2019 NICKEL PRODUCTION 128 + / - 5 KT.GLENCORE - SEES FY 2019 FERROCHROME PRODUCTION 1,450 + / - 25 KT.  Full Article

Glencore YTD Cobalt Production Jumps 21%, Copper Output Falls
Friday, 25 Oct 2019 

Oct 25 (Reuters) - Glencore PLC ::THIRD QUARTER 2019 PRODUCTION REPORT.YTD OWN SOURCED COPPER PRODUCTION OF 1,015,800 TONNES WAS 47,300 TONNES (4%) LOWER THAN COMPARABLE PRIOR PERIOD.YTD OWN SOURCED COBALT PRODUCTION OF 34,400 TONNES WAS 5,900 TONNES (21%) HIGHER THAN LAST YEAR.YTD OWN SOURCED ZINC PRODUCTION OF 809,200 TONNES WAS 23,100 TONNES (3%) HIGHER THAN COMPARABLE PRIOR PERIOD.YTD COAL PRODUCTION OF 104.0 MILLION TONNES WAS 7.3 MILLION TONNES (8%) HIGHER THAN COMPARABLE PRIOR PERIOD.YTD OWN SOURCED NICKEL PRODUCTION OF 89,400 TONNES WAS SLIGHTLY (2%) LOWER THAN COMPARABLE PRIOR PERIOD.YTD ENTITLEMENT INTEREST OIL PRODUCTION OF 3.6 MILLION BARRELS WAS 0.3 MILLION BARRELS (8%) HIGHER THAN COMPARABLE PRIOR PERIOD.SEES FY AFRICAN COPPER PRODUCTION 375 +/- 15 KT.SEES FY 2019 COBALT PRODUCTION 43+/-3KT.SEES FY COAL PRODUCTION 145 +/- 3 MT.SEES FY 2019 COPPER EXCLUDING AFRICAN COPPER PRODUCTION 1,010 +/ - 25KT.SEES FY 2019 ZINC PRODUCTION 1,110 + / - 25KT.SEES FY OIL PRODUCTION 5.5 +/- 0.2 MBBL.SEES FY 2019 NICKEL PRODUCTION 128 + / - 5 KT.SEES FY 2019 FERROCHROME PRODUCTION 1,450 + / - 25 KT.  Full Article

GEM Co Ltd, Glencore Enter 5-Yr Cobalt Supply Deal
Monday, 7 Oct 2019 

Oct 7 (Reuters) - Glencore Plc ::GEM CO LTD AND GLENCORE ANNOUNCE THAT THEY HAVE ENTERED INTO A FIVE YEAR AGREEMENT FOR THE SUPPLY OF COBALT HYDROXIDE (COBALT).WILL PROVIDE A MINIMUM OF 61,200 TONNES OF COBALT FOR GEM BETWEEN 2020 AND 2024.  Full Article

AMG Signs Multi-Year Contract To Supply Ferrovanadium To Glencore
Thursday, 26 Sep 2019 

Sept 26 (Reuters) - AMG ADVANCED METALLURGICAL GROUP NV ::AMG SIGNS MULTI-YEAR CONTRACT TO SUPPLY AVAILABLE PRODUCTION TO GLENCORE.SIGNED AGREEMENT TO SUPPLY FERROVANADIUM PRODUCTION FROM BOTH EXISTING AND FUTURE OHIO FACILITIES TO GLENCORE AG.  Full Article

Glencore Says Qatar Holding's Stake Of 1.22 Bln Shares Reached 9% Of Co's Total Voting Rights
Tuesday, 27 Aug 2019 

Aug 27 (Reuters) - Glencore PLC ::AS A RESULT OF CO'S ONGOING BUY-BACK PROGRAMME, QATAR HOLDING'S STAKE OF 1.22 BILLION SHARES REACHED 9.00% OF CO'S TOTAL VOTING RIGHTS.  Full Article

Harris Associates L.P. Discloses 5% Stake In Glencore As Of Aug 21 - Filing
Friday, 23 Aug 2019 

Aug 23 (Reuters) - Glencore PLC ::HARRIS ASSOCIATES L.P. DISCLOSES 5% STAKE IN GLENCORE AS OF AUG 21 VERSUS PRIOR STAKE OF 4.91% - FILING.  Full Article

Miner Glencore's Mutanda Mine in Congo to be shut for two years
Wednesday, 7 Aug 2019 

Aug 7 (Reuters) - Glencore PLC ::GLENCORE SAYS MUTANDA COPPER AND COBALT MINE IN CONGO WILL REMAIN SHUT FOR TWO YEARS, UNLIKELY TO COME BACK SOONER.GLENCORE CEO SAYS HE REMAINS BULLISH ON COBALT, METAL WILL BE IN STRONG DEMAND LONG-TERM.GLENCORE CEO SAYS STILL DISPUTING THE EXISTING MINING CODE IN THE DRC.GLENCORE SAYS SAFETY PERFORMANCE NEEDS TO BE ADDRESSED VERY QUICKLY.GLENCORE SAYS WHILST IN CARE AND MAINTENANCE, MUTANDA MINE WILL MAINTAIN NATIONAL WORKFORCE.GLENCORE CEO SAYS IN DISCUSSIONS WITH NEW DRC GOVERNMENT ON MINING CODE, CURRENT VERSION NOT ACCEPTABLE TO US.  Full Article

Glencore H1 Adj EBITDA Fell 32% To $5.6 Bln
Wednesday, 7 Aug 2019 

Aug 7 (Reuters) - Glencore PLC ::H1 ADJUSTED EBITDA FELL 32 PERCENT TO 5.6 BILLION USD.GLENCORE - MARKETING BUSINESS IS TRACKING TOWARDS MIDDLE OF OUR FULL YEAR ADJUSTED EBIT GUIDANCE RANGE OF $2.2-$3.2 BILLION.GLENCORE - AT MUTANDA, WE ARE PLANNING TO TRANSITION OPERATION TO TEMPORARY CARE AND MAINTENANCE BY YEAR END.GLENCORE - HY NET INCOME ATTRIBUTABLE TO EQUITY HOLDERS DOWN TO $0.2 BILLION.GLENCORE - AT MUTANDA, PLANNING TO TRANSITION OPERATION, REFLECTING REDUCED ECONOMIC VIABILITY IN CURRENT MARKET ENVIRONMENT.GLENCORE - H1 2019 ADJUSTED EBITDA OF $5.6 BILLION, DOWN 32% ($5.9 BILLION, PRE $350 MILLION NON-CASH COBALT LOSS).GLENCORE - HY MARKETING ADJUSTED EBIT OF $1.0 BILLION, DOWN 35%, BUT ONLY 13%, EXCLUDING A COBALT RELATED LOSS.GLENCORE - ON ANNUALISED BASIS, PRE-COBALT MARKETING ADJUSTED EBIT OF $1.3 BILLION TRACKING TOWARDS MIDDLE OF OUR $2.2-$3.2 BILLION LONG-TERM GUIDANCE RANGE.GLENCORE - H1 PERFORMANCE REFLECTED CHALLENGING ECONOMIC BACKDROP FOR COMMODITY MIX.GLENCORE - EXPECTED INDUSTRIAL PRODUCTION WEIGHTED TOWARDS H2 FOR EACH OF COPPER, ZINC, NICKEL, COAL AND OIL.GLENCORE - EXTENSIVE OPERATIONAL AND COST IMPROVEMENT INITIATIVES BEING UNDERTAKEN AT AFRICAN COPPER AND KONIAMBO.GLENCORE - ALTHOUGH NET DEBT OF $16.3 BILLION IS AT UPPER END OF OUR TARGET RANGE, ON ACCOUNT OF A NEW LEASE ACCOUNTING STANDARD,.GLENCORE - ON ACCOUNT OF A NEW LEASE ACCOUNTING STANDARD, $1.1 BILLION OF NEW LEASE LIABILITIES WERE RECOGNISED DURING H1 2019.  Full Article

Australia's FAR inks marketing deal with Glencore for Senegal's Sangomar project

FAR Ltd said on Wednesday it signed a binding agreement with Glencore Plc to market the Australian company's share of crude oil from the $4.2 billion Sangomar project in Senegal.