Glencore PLC (GLEN.L)
16 Aug 2019
Wed, Aug 14 2019
MELBOURNE Global commodity miner and trader Glencore on Wednesday lost its case to stop Australian tax authorities using business information that was leaked as part of the so-called Paradise Papers.
MELBOURNE, Aug 14 Global commodity miner and trader Glencore on Wednesday lost its case to stop Australian tax authorities using business information that was leaked as part of the so-called Paradise Papers.
MELBOURNE, Aug 13 * Investment bank UBS said on Tuesday that the shuttering of top cobalt producer Glencore's Mutanda mine in Democratic Republic of Congo should trim an expected market surplus over 2019-2023, moving the risk versus reward for cobalt prices "firmly to the upside."
Rail operator Aurizon Holdings Ltd on Monday reported a 13% decline in full year underlying net profit after tax, hurt by increased spending on maintenance, but flagged it expects stronger earnings this year on higher coal hauling volumes.
* Long-time West African crude oil trader Anthony Stimler has left mining and trading giant Glencore, trading sources familiar with the matter said.
LONDON, Aug 8 Glencore has "a key role to play in enabling the transition to a low-carbon economy," according to Chief Executive Officer Ivan Glasenberg, writing in the company's 2018 annual report.
LONDON, Aug 8 Cobalt prices have started to firm after Glencore announced plans to freeze output at the world's largest mine of the battery material, but traders say an overhang of stock held by the commodity trader and miner will inevitably cap gains.
LONDON (Reuters Breakingviews) - Glencore’s bull case just took another hit. The Swiss miner and trader’s half-year results on Wednesday saw adjusted EBITDA fall almost a third from the same period in 2018. The drop largely reflects Chief Executive Ivan Glasenberg’s chosen business mix – but Glencore also added a Congo-shaped reason to mark down its shares.
LONDON Glencore reported a 32% drop in first-half core profit on Wednesday, sending its shares to their lowest since late 2016, while a fall in cobalt prices prompted it to halt output for two years at the world's biggest mine of the battery material.
* Analysts disappointed, still say Glencore undervalued (Adds comment, detail, analysts, share price)