Glencore PLC

Glencore Plc engages in the production and marketing of metal, mineral, and energy and agricultural commodities. The firm serves the automotive, steel, power generation, battery manufacturing, and oil sectors. It operates through the following segments: Marketing, Industrial, and Corporate and Other. The Marketing segment includes net sale and purchase of physical commodities, and provision of marketing and related value-add services. The Industrial segment deals with the sale of physical commodities over the cost of production and/or cost of sales. The Corporate and Other segment represents group related income and expenses. The company was founded in 1974 and is headquartered in Baar, Switzerland.

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Nickel spot prices were significantly higher the last month and the LME inventory was higher. Nickel market news - BMI: You can build the cathode/battery/EV plants; but if you don't have the raw materials, they're just expensive weights on your balance sheet.

Nickel Miners News For The Month Of December 2022

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Energy Fuels

Europe vanadium pentoxide spot prices were higher in the past 30 days. China and Europe ferrovanadium prices were higher. Vanadium market news - Battery demand for vanadium from VRFB to change the vanadium market. Vanadium Flow Batteries could leapfrog over pumped hydro for long-duration energy storage.

Vanadium Miners News For The Month Of December 2022

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Cheap blue-chip stocks under $15 are always worth a look when you're expanding your portfolio. Blue-chip stocks have something many investors are seeking in this volatile market: Stability.

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Glencore guides for lower production and higher capex at its December update. Despite the downward revision, the portfolio mix still leaves the company well-positioned to capitalize on near and long-term trends.

Glencore: Look Past The Bearish Investor Update

(Kitco News) - "After careful deliberation, the Government of Canada has determined the significant adverse environmental effects of the proposed Sukunka Coal Mine Project, an open-pit metallurgical coal mine located near Tumbler Ridge, British Columbia, could not be mitigated. The project therefore cannot proceed."

Glencore's Sukunka coal mine project rejected

Rio Tinto plc Sponsored

Analysts at JPMorgan Cazenove have named Glencore PLC (LSE:GLEN) as their overall top pick for 2023 in a European Metals & Mining sector review, and have downgraded Rio Tinto PLC (LSE:RIO) to 'Underweight'. In a note to clients entitled 'Crossing the Rubicon', the US bank's equity strategists pointed out that Metals & Mining is Europe's number one performing sector in Q4 2022 - up 20% versus the MSCI - and said they are Overweight on the sector in 2023 given that metals are a key beneficiary of China's re-opening, plus due to positioning for a weaker US dollar.

Glencore named top pick for 2023 in JPMorgan Cazenove European Metals & Mining review; Rio Tinto downgraded

(Kitco News) - On Monday, Glencore announced it will enter a long-term supply agreement with ACE Green Recycling (ACE), a global recycling technology and supply chain platform, for recycled lead as well as key battery metal based end products from recycled lithium-ion batteries.

Glencore inks supply agreement with ACE for recycled lead, lithium, nickel and cobalt

Glencore PLC (LSE:GLEN) is paying a further US$180mln into the Democratic Republic of Congo to settle past and future corruption claims. This includes activities in certain parts of its business that have been the subject of various investigations by, amongst others, the United States Department of Justice and the DRC's National Financial Intelligence Unit and Ministry of Justice.

Glencore pays large sum of money into DRC to settle corruption claim

Europe vanadium pentoxide spot prices were slightly higher the past 30 days. China and Europe ferrovanadium prices were slightly higher. Vanadium market news - China wants over 100 GW energy storage by 2025, 30 GWh from batteries including VRFBs. North Harbour plans to build the first big VRFB in Australia.

Vanadium Miners News For The Month Of November 2022

Metals Acquisition Ltd

(Kitco News) - Glencore announced today it has entered into a binding agreement with Metals Acquisition Corp (MAC), amending terms announced on 17 March 2022, for the sale and purchase of Glencore's CSA (Cobar) copper mine in New South Wales, Australia.

Glencore, MAC agree to amend terms to acquire CSA mine in US$1.1 billion transaction

Glencore PLC (GLNCY) has been upgraded to a Zacks Rank #2 (Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.

Glencore PLC (GLNCY) Moves to Buy: Rationale Behind the Upgrade

Glencore is the best pick in the mining sector heading into 2023, according to Deutsche Bank, which expects a shortage of battery metals to come to a head over the next twelve months. “There is not enough supply to meet future energy transition-related demand,” said the bank in a note, highlighting the FTSE 100's group's cobalt division.

Glencore the best mining pick for 2023, reckons Deutsche Bank

Glencore (LON: GLEN) share price held steady on Wednesday after the embattled company sold an important business in Australia. The stock rose to 535p, which was the highest level since November 7.

Is corrupt Glencore a good buy after rising by 40% YTD?

Glencore PLC (LSE:GLEN) has agreed to sell its Cobar copper mine in New South Wales, Australia for US$1.1bn and an ongoing 1.5% smelter royalty to Metals Acquisition Corp, a New York-listed special purpose acquisition company (SPAC). The pair amended the timing of the payments compared to original terms announced in March, with the deal now expected to be completed in the first quarter of 2023.

Glencore agrees to tweak terms with Cobar mine sale to MAC SPAC

Barclays analysts have kept faith in Glencore PLC (LSE:GLEN) after unseasonably warm weather caused excess supplies of gas and coal, driving prices down by 36% and 32% respectively. Even if higher temperatures continue into late November, Barclays suggests that “coal burn should ramp up meaningfully into winter and we would see any weakness as an opportunity to increase exposure.

Glencore weakness only short term - Barclays

Here is how Glencore PLC (GLNCY) and Ingevity (NGVT) have performed compared to their sector so far this year.

Are Basic Materials Stocks Lagging Glencore (GLNCY) This Year?

Russia's largest lender, Sberbank , is suing global commodities trader Glencore for around 117 million euros ($116 million) over unpaid oil supplies, the database of Moscow's Arbitration Court showed on Monday.

Russia's Sberbank sues Glencore for $116 mln over oil supplies

Commodities giant Glencore has been ordered to pay a record £281 million ($314 million) penalty by a UK court for bribing officials across Africa to gain access to oil.

Glencore fined $314 million for 'endemic' bribery of African oil officials

Is it any comfort to the mining industry that the more serious of the charges that were recited against Glencore PLC (LSE:GLEN) in Southwark Crown court this week related to oil deals? Cash in suitcases was ferried around by jetplanes in Africa, specifically to bribe officials in the oil and gas industries in South Sudan, Nigeria and elsewhere, the court heard, ahead of sentencing.

Glencore receives record fines for corruption in oil transactions

A London court fined the British subsidiary of mining and trading group Glencore 182.9 million pounds ($205.87 million) on Thursday for seven bribery offences in relation to its oil operations in Africa.

UK court fines Glencore unit 182.9 mln pounds for bribery offences

A British subsidiary of mining and trading group Glencore was ordered to pay a total penalty of 276.4 million pounds ($310.6 million) in a London court on Thursday for seven bribery offences in relation to its oil operations in Africa.

Glencore UK subsidiary ordered to pay $310 mln over bribery charges

Elon Musk wanted to buy 10-20% of Glencore, but refused to. I'll discuss why. When Norilsk Nickel left the Western markets, Glencore became its main substitute for nonferrous metals.

Buy Glencore Even If Elon Musk Doesn't

British prosecutors are seeking over $200 million in penalties from Glencore to resolve a probe into bribery in Africa, and they said they now want to prosecute a number of the commodities giant's former executives.

Glencore Faces Further Bribery Penalties in the U.K.

Corruption at FTSE 100 firm described as endemic at sentence hearing

Mining giant Glencore flew cash bribes to Africa via private jet, UK court hears

Tesla

Discussions were preliminary and didn't result in any deal. Tesla is already a customer of Glencore, a big cobalt producer.

News for Glencore PLC Stock (GLNCY)