Edition:
India

Glencore PLC (GLEN.L)

GLEN.L on London Stock Exchange

179.58GBp
14 Jul 2020
Change (% chg)

1.18 (+0.66%)
Prev Close
178.40
Open
175.32
Day's High
179.58
Day's Low
174.54
Volume
29,831,721
Avg. Vol
42,356,649
52-wk High
282.00
52-wk Low
109.76

Latest Key Developments (Source: Significant Developments)

Glencore Says Investigation Opened By The OAG Of Switzerland
Friday, 19 Jun 2020 

June 19 (Reuters) - Glencore PLC ::GLENCORE PLC - INVESTIGATION BY THE OAG OF SWITZERLAND.GLENCORE - OFFICE OF ATTORNEY GENERAL OF SWITZERLAND OPENED A CRIMINAL INVESTIGATION INTO GLENCORE INTERNATIONAL AG.GLENCORE - INVESTIGATION FOR FAILURE TO HAVE ORGANIZATIONAL MEASURES IN PLACE TO PREVENT ALLEGED CORRUPTION IN DEMOCRATIC REPUBLIC OF CONGO.GLENCORE - WILL COOPERATE WITH INVESTIGATION BY OAG.  Full Article

Merafe Resources Says Consultation With Employee Representatives, Recognised Trade Unions Underway
Friday, 19 Jun 2020 

June 19 (Reuters) - Merafe Resources Ltd ::CONSULTATION WITH EMPLOYEE REPRESENTATIVES AND RECOGNISED TRADE UNIONS REGARDING PROCESS IS UNDERWAY.CONSULTATION WITH EMPLOYEE REPRESENTATIVES AND RECOGNISED TRADE UNIONS REGARDING PROCESS IS UNDERWAY.PROCESS DUE TO WORSENING OPERATING ENVIRONMENT IN SOUTH AFRICAN FERROCHROME INDUSTRY, INCLUDING UNSUSTAINABLE ELECTRICITY PRICING.PROCESS WILL ALSO IMPACT EASTERN AND WESTERN CHROME MINES.OPERATIONS IMPACTED BY PROCESS ARE, LYDENBURG SMELTER, WONDERKOP SMELTER, BOSHOEK SMELTER AND LION SMELTER.GLENCORE OPERATIONS SOUTH AFRICA, MERAFE COMMENCED CONSULTATION PROCESS IN TERMS OF SECTIONS 189 AND 189A OF LRA.  Full Article

Merafe Resources Unit Concludes Sale Agreement With Glencore
Friday, 29 May 2020 

May 29 (Reuters) - Merafe Resources Ltd ::MERAFE RESOURCES LTD - SUBSIDIARY CONCLUDED A SALE AGREEMENT WITH GLENCORE.MERAFE - GLENCORE AGREED TO SELL 20.5% OF ITS 100% INTEREST IN UNICORN CHROME PROPRIETARY TO CO'S UNIT FOR ABOUT R32.2 MILLION.  Full Article

Glencore Defers Distribution Decision To Q3 2020
Thursday, 28 May 2020 

May 28 (Reuters) - Glencore PLC ::GLENCORE - SEES 2020 COPPER PRODUCTION 1,255 ± 45 KT.GLENCORE - SEES 2020 COAL PRODUCTION 132 ± 3 MT.GLENCORE - SEES 2020 COBALT PRODUCTION 28 ± 2 KT.GLENCORE - DEFERRAL OF DISTRIBUTION DECISION TO Q3 2020.GLENCORE - SEES 2020 ZINC PRODUCTION 1,160 ± 30 KT.GLENCORE - SEES 2020 NICKEL PRODUCTION 122 ± 5 KT.GLENCORE - PLANNED $1 TO $1.5BN REDUCTION (FROM $5.5BN) FROM ASSET CURTAILMENTS AND ASSOCIATED CAPEX SAVINGS.GLENCORE - SEES 2020 FERROCHROME PRODUCTION 1,000 ± 25 KT.GLENCORE - REFINANCING AND EXTENSION OF REVOLVING CREDIT FACILITIES ON THE SAME COMMERCIAL TERMS AS LAST YEAR.GLENCORE - 2020 OIL GUIDANCE UNDER REVIEW.GLENCORE - FULL IMPACT OF DEMAND SHOCK BEEN TEMPERED BY COVID-19 RELATED SUPPLY DISRUPTIONS/REDUCTIONS TO DATE.GLENCORE-LOW ABOVE GROUND INVENTORIES AT START OF YEAR SHOULD HELP LIMIT EXTENT OF POTENTIAL INVENTORY BUILD LIKELY TO BE SEEN IN COPPER, ZINC, NICKEL.GLENCORE - MAJORITY OF CO'S INDUSTRIAL ASSETS CONTINUE TO OPERATE RELATIVELY NORMALLY.GLENCORE - NUMBER OF OPERATIONS HAVE BEEN TEMPORARILY SUSPENDED, WHERE NATIONAL/REGIONAL LOCKDOWNS OR OTHER CIRCUMSTANCES HAVE REQUIRED.  Full Article

South Africa's NUMSA Issues Statement On Glencore Lion Smelter Workers
Friday, 24 Apr 2020 

April 24 (Reuters) - National Union of Metalworkers of South Africa (NUMSA)::SOUTH AFRICA'S NUMSA - LEARNED THAT WORKERS AT GLENCORE LION SMELTER IN STEELPOORT HAVE BEEN ARRESTED.SOUTH AFRICA'S NUMSA - MEMBERS HAVE SUBSEQUENTLY BEEN RELEASED.SOUTH AFRICA'S NUMSA - HAVE RAISED ISSUES DIRECTLY WITH GLENCORE LION SMELTER MANAGEMENT AND THEY HAVE YET TO RESPOND.  Full Article

Glencore Says Antamina JV In Peru Halts Operations For About Two Weeks
Tuesday, 14 Apr 2020 

April 14 (Reuters) - Glencore PLC ::GLENCORE PLC - UPDATE ON COVID-19.GLENCORE - WHILE MAJORITY OF OPERATIONS HAVE NOT BEEN MATERIALLY IMPACTED, PROVIDES AN UPDATE ON IMPACTS THAT HAVE OCCURRED AT CERTAIN OF ASSETS.GLENCORE - RAGLAN (NICKEL) AND MATAGAMI (ZINC) OPERATIONS IN QUEBEC ARE ANALYSING OPTIONS TO RESTART OPERATIONS BEFORE 4 MAY.GLENCORE - PRODECO'S MINING OPERATIONS REMAIN ON CARE AND MAINTENANCE, WHILE PORT CONTINUES TO OPERATE.GLENCORE - PRODECO'S MINING OPERATIONS REMAIN ON CARE AND MAINTENANCE, WHILE PORT CONTINUES TO OPERATE..GLENCORE - AT JV OPERATION, ANTAMINA DECISION HAS BEEN TAKEN TO DE-MOBILISE WORKFORCE AND HALT OPERATIONS FOR A LIKELY PERIOD OF APPROXIMATELY 2 WEEKS.GLENCORE - IN SOUTH AFRICA, FERROALLOYS AND TWO OF OUR COAL (MIDDLEBURG AND GRASPAN) OPERATIONS CURRENTLY REMAIN ON CARE AND MAINTENANCE..GLENCORE - GLENCORE IS CURRENTLY IN DISCUSSIONS WITH TRANSITION OF MINING OPERATIONS TO CARE AND MAINTENANCE WITH GOVERNMENT OF ZAMBIA..  Full Article

United Company Rusal Updates On Sales Contract
Friday, 3 Apr 2020 

April 3 (Reuters) - United Company RUSAL 0486.HK::ON 13 DEC 2019, APPROVED RUSAL MARKETING GMBH ENTER SALES CONTRACT ON SALE OF PRIMARY ALUMINIUM TO GLENCORE INTERNATIONAL AG.  Full Article

Glencore To Defer Decision On Proposed Cash Distribution Of $0.20 Per Share In 2020
Tuesday, 31 Mar 2020 

March 31 (Reuters) - Glencore PLC ::2020 DISTRIBUTION AND REVOLVING CREDIT FACILITIES.BELIEVES IT PRUDENT TO DEFER ITS DECISION AS TO WHETHER TO PROCEED WITH PROPOSED CASH DISTRIBUTION OF $0.20 PER SHARE (C. $2.6 BLN) IN 2020.FACILITIES HAVE BEEN REFINANCED AND EXTENDED, EFFECTIVE 22 MAY 2020, ON SAME COMMERCIAL TERMS AS OUR 2019 FACILITIES.SHORTER-TERM FACILITIES WERE INITIALLY LAUNCHED AT $8 BLN AND CLOSED SUBSTANTIALLY OVERSUBSCRIBED, RAISING $10.75 BLN.THERE EXISTS RISK OF MATERIAL PRODUCTION DISRUPTION DUE TO COVID-19.LONGER-TERM $4.65 BLN REVOLVING CREDIT FACILITY WAS EXTENDED TO 2025 .UNSECURED FACILITIES CONTAIN NO FINANCIAL COVENANTS, NO RATING TRIGGERS, NO MATERIAL ADVERSE CHANGE CLAUSES, NO EXTERNAL FACTOR CLAUSES.SCALED BACK SUBSCRIPTION LEVELS AND ULTIMATELY INCREASED SIZE OF FACILITIES TO $9.975 BLN, UP FROM $9.775 BLN SIGNED IN 2019.  Full Article

Glencore Says Larger Ops Not Materially Impacted Due To COVID-19
Thursday, 26 Mar 2020 

March 26 (Reuters) - Glencore PLC ::UPDATE ON COVID-19.OUR LARGER OPERATIONS HAVE NOT BEEN MATERIALLY IMPACTED.A NUMBER OF OUR SMALLER ASSETS HAVE HAD TO RESTRICT OR STOP OPERATIONS..OUR RAGLAN (NICKEL) AND MATAGAMI (ZINC) OPERATIONS IN QUEBEC WILL BE ON CARE AND MAINTENANCE FOR NEXT THREE WEEKS.  Full Article

Glencore Seen Some Impact On Some Smaller Operations Due To COVID-19
Friday, 20 Mar 2020 

March 20 (Reuters) - Glencore PLC ::GLENCORE PLC - UPDATE ON COVID-19.GLENCORE - SCALE AND DIVERSITY OF OUR OPERATIONS MEANS THAT IMPACT OF COVID-19 VARIES BY LOCATION..GLENCORE - CONTINUE TO ASSESS RISKS.GLENCORE - HAVE INTRODUCED A NUMBER OF ADDITIONAL PRECAUTIONARY MEASURES ACROSS OUR OFFICES AND INDUSTRIAL ASSETS.GLENCORE - GLENCORE ALSO CONTINUES TO REVIEW ITS INDUSTRIAL OPERATIONS TO ENSURE THAT THEY ARE APPROPRIATELY POSITIONED.GLENCORE - TO DATE, THERE HAVE BEEN NO MATERIAL DISRUPTIONS AT OUR OPERATING ASSETS OR WITHIN OUR SUPPLY CHAIN.GLENCORE - GLENCORE HAD $10BN IN AVAILABLE COMMITTED UNDRAWN CREDIT FACILITIES AND CASH AT END OF 2019.GLENCORE - "WE AIM TO MINIMISE DISRUPTION SO WE CAN CONTINUE TO SOURCE AND DELIVER PRODUCTS THAT OUR CUSTOMERS NEED.".GLENCORE - MARKETING BUSINESS IS DELIVERING ANNUALISED EBIT PERFORMANCE WITHIN OUR THROUGH CYCLE LONG-TERM GUIDANCE RANGE OF $2.2BN TO $3.2BN P.A..GLENCORE - WE HAVE TO DATE SEEN SOME IMPACT ON CERTAIN SMALLER OPERATIONS..GLENCORE - LIQUIDITY HAS INCREASED SINCE START OF YEAR DUE TO LOWER WORKING CAPITAL FUNDING REQUIREMENTS, IN LINE WITH LOWER COMMODITY PRICES.GLENCORE - LIQUIDITY HAS INCREASED SINCE START OF YEAR DUE TO LOWER WORKING CAPITAL FUNDING REQUIREMENTS.GLENCORE-WEAKENING OF PRODUCER CURRENCIES AGAINST USD, LOWER OIL PRICES, INTEREST RATES PROVIDED SUBSTANTIAL CASH OFFSETS TO FALL IN COMMODITY PRICES.  Full Article

FACTBOX-Latest on the worldwide spread of the coronavirus

July 14 Alabama, Florida and North Carolina in the United States reported record daily increases in deaths from COVID-19 on Tuesday, while the Federal Reserve said the U.S. economy will recover more slowly than expected.