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Glencore PLC (GLEN.L)

GLEN.L on London Stock Exchange

123.80GBp
31 Mar 2020
Change (% chg)

4.80 (+4.03%)
Prev Close
119.00
Open
122.18
Day's High
123.80
Day's Low
119.20
Volume
53,456,566
Avg. Vol
37,755,485
52-wk High
343.90
52-wk Low
109.76

Latest Key Developments (Source: Significant Developments)

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

Glencore Postpones AGM Amid Coronavirus Outbreak
Wednesday, 18 Mar 2020 

March 18 (Reuters) - Glencore PLC ::GLENCORE PLC - ANNUAL GENERAL MEETING 2020 POSTPONEMENT.GLENCORE - IMPACT OF CONTINUING COVID-19 SITUATION AND CORRESPONDING RESTRICTIONS ON ITS ANNUAL GENERAL MEETING..GLENCORE - UNABLE TO PROCEED WITH ITS PLANNED AGM IN ZUG ON 6 MAY.GLENCORE - WILL ANNOUNCE NEW AGM DATE PRIOR TO END OF MAY.  Full Article

Century Aluminum Company Reports Q4 Adjusted Loss Per Share $0.09
Friday, 21 Feb 2020 

Feb 20 (Reuters) - Century Aluminum Co ::MPANY REPORTS FOURTH QUARTER AND FULL YEAR 2019 RESULTS.Q4 ADJUSTED LOSS PER SHARE $0.09.Q4 LOSS PER SHARE $0.05.Q4 SALES $435.5 MILLION VERSUS REFINITIV IBES ESTIMATE OF $426.7 MILLION.Q4 SHIPMENTS OF 202,870 TONNES, A 2% INCREASE OVER PRIOR QUARTER.CASH POSITION WAS $38.9 MILLION AND REVOLVER AVAILABILITY WAS $161.6 MILLION AT QUARTER END.Q4 EARNINGS PER SHARE VIEW $-0.18 -- REFINITIV IBES DATA.  Full Article

Glencore says several more senior leadership changes are coming
Tuesday, 18 Feb 2020 

Feb 18 (Reuters) - Glencore Plc ::GLENCORE SAYS IT WILL NOT BE PRODUCING COAL IN COLOMBIA AFTER 2035.GLENCORE SAYS SEVERAL MORE SENIOR LEADERSHIP CHANGES ARE COMING.GLENCORE SAYS THERE'S A CHANCE TO CONTINUE BUY BACKS IN 2020.  Full Article

Glencore Posts FY Adjusted EBITDA Down 26%
Tuesday, 18 Feb 2020 

Feb 18 (Reuters) - Glencore PLC ::FY ADJUSTED EBITDA FELL 26 PERCENT TO 11.6 BILLION USD.PRELIMINARY RESULTS 2019.GLENCORE - FY NET LOSS ATTRIBUTABLE TO EQUITY HOLDERS OF $0.4 BILLION, AFTER $2.8 BILLION OF IMPAIRMENT CHARGES.GLENCORE - FY 2019 ADJUSTED EBITDA OF $11.6 BILLION, DOWN 26%.GLENCORE - FY NET CAPEX CASH FLOW OF $5 BILLION.GLENCORE - ON TRACK TO ACHIEVE A NEAR DOUBLING OF OUR FIRST GHG TARGET WITH A REDUCTION IN SCOPE 1 AND 2 EMISSIONS INTENSITY OF C.10% SINCE 2016.GLENCORE - IN LINE WITH COMMITMENT TO A PARIS CONSISTENT STRATEGY, WE PROJECT A C.30% REDUCTION IN ABSOLUTE SCOPE 3 EMISSIONS BY 2035.GLENCORE - 2020 FOCUS ON REDUCING NET DEBT/ADJUSTED EBITDA RATIO CLOSER TO 1X AND NET DEBT TOWARDS C.$14-15 BILLION RANGE.GLENCORE - LOOKING AHEAD, IN SHORT-TERM, CLOSELY WATCHING CORONAVIRUS DEVELOPMENTS AND POTENTIAL SCENARIO IMPACTS ON GLOBAL GROWTH AND MARKETS.GLENCORE - RECOMMENDED 2020 BASE DISTRIBUTION OF $0.20 PER SHARE ($2.6 BILLION), PAYABLE IN TWO EQUAL INSTALMENTS.GLENCORE - $2.8 BILLION OF IMPAIRMENT CHARGES IN FY.GLENCORE - FY MARKETING ADJUSTED EBIT OF $2.4 BILLION, DOWN 2% YEAR-ON-YEAR.GLENCORE - NET DEBT OF $17.6 BILLION, AFTER $1.25 BILLION OF IFRS 16 RELATED LEASE LIABILITIES AT YEAR END.GLENCORE - 2020 FOCUS ON REDUCING NET DEBT/ADJUSTED EBITDA RATIO CLOSER TO 1X, NET DEBT TOWARDS C.$14-15 BILLION RANGE EXCLUDING MARKETING RELATED LIABILITIES.GLENCORE - FY REVENUE $215,111 MILLION VERSUS $220,524 MILLION.  Full Article

Glencore Plc Appoints Kalidas Madhavpeddi As Independent Non-Executive Director
Tuesday, 4 Feb 2020 

Feb 4 (Reuters) - Glencore PLC ::GLENCORE PLC - BOARD APPOINTMENT.GLENCORE - APPOINTMENT OF KALIDAS MADHAVPEDDI AS AN INDEPENDENT NON-EXECUTIVE DIRECTOR OF COMPANY WITH IMMEDIATE EFFECT.  Full Article

Glencore's Qtrly Copper Output Down 9% To 355.4 Kt
Tuesday, 4 Feb 2020 

Feb 4 (Reuters) - Glencore Plc ::FULL YEAR 2019 PRODUCTION REPORT.FY OWN SOURCED COPPER PRODUCTION OF 1,371,200 TONNES WAS 82,500 TONNES 6% LOWER THAN IN 2018.FULL YEAR 2020 PRODUCTION GUIDANCE, CONSISTENT WITH THAT PRESENTED IN INVESTOR UPDATE ON 3 DECEMBER 2019.FY OWN SOURCED COBALT PRODUCTION OF 46,300 TONNES WAS 4,100 TONNES 10% HIGHER THAN COMPARABLE PRIOR PERIOD.CERREJON'S 2019 COAL PRODUCTION WAS CONSTRAINED BY DUST EMISSIONS CONTROL REQUIREMENTS.FY OWN SOURCED ZINC PRODUCTION OF 1,077,500 TONNES WAS IN LINE WITH 2018.FY OWN SOURCED NICKEL PRODUCTION OF 120,600 TONNES WAS 3,200 TONNES 3% LOWER THAN IN 2018.FY ATTRIBUTABLE FERROCHROME PRODUCTION OF 1,438,000 TONNES WAS 142,000 TONNES 9% LOWER THAN IN 2018.FY COAL PRODUCTION OF 139.5 MILLION TONNES WAS 10.1 MILLION TONNES 8% HIGHER THAN IN 2018.QTRLY COPPER OUTPUT DOWN 9% TO 355.4 KT.QTRLY COBALT OUTPUT DOWN 13% TO 11.9 KT.  Full Article

Merafe Resources Says QTRLY Attributable Ferrochrome Production 105 Kt Versus 112 Kt From Glencore Merafe Chrome Venture
Monday, 3 Feb 2020 

Feb 3 (Reuters) - Merafe Resources Ltd ::PRODUCTION REPORT FOR THE FOURTH QUARTER ENDED 31 DECEMBER 2019.QTRLY ATTRIBUTABLE FERROCHROME PRODUCTION 105 KT VERSUS 112 KT FROM GLENCORE MERAFE CHROME VENTURE.DECREASE IN Q4 FERROCHROME PRODUCTION FROM GLENCORE MERAFE CHROME VENTURE DUE TO INCREASED ELECTRICITY CURTAILMENTS FROM ESKOM.DECREASE IN Q4 FERROCHROME PRODUCTION FROM GLENCORE MERAFE CHROME VENTURE ALSO DUE TO COMMUNITY UNRESTS, PRODUCTION CUTBACKS.  Full Article

UPDATE 2-Glencore delays dividend payment decision as coronavirus risk mounts

LONDON, March 31 Glencore said on Tuesday it had deferred a decision on its proposed $2.6 billion dividend pay out for this year and said there could be material disruption to production due to the coronavirus epidemic.