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.

(Kitco News) - On Thursday, Comet Resources (ASX: CRL) announced that it has executed an amended binding agreement to acquire a 100% interest in the Mt Margaret copper project from Mount Isa Mines, a wholly-owned subsidiary of Glencore.

Comet Resources acquires past-producing copper mine from Glencore

After gradually reducing the flow of natural gas to Europe over the past six months, last Friday, Russian President Vladimir Putin completely shut down the Nord Stream 1 pipeline that previously supplied Europe with approximately 40% of its natural gas energy needs. The continent's ongoing efforts to replace the lost natural gas have now reached crisis proportions.

Glencore Profits Handsomely from Europe's Sudden Need for Coal

Britishvolt will not be ready to produce electric vehicle batteries from its plant in north-east England until 2025 – two years later than its previous plans – as high energy plans disrupt the development.  In recent weeks reports emerged that some construction work had been halted and costs slashed as the company awaited its next injection of funding, having already raised cash from FTSE 100 groups Glencore PLC (LSE:GLEN) and Ashtead Group PLC (LSE:AHT), and been promised £100mln by Downing Street.

Glencore-backed EV battery maker Britishvolt further delays production plans

Over the past 10 years, Glencore PLC ( LSE:GLEN , Financial) has underperformed its two main peers, Rio Tinto ( LSE:RIO , Financial) and Anglo American ( LSE:AAL , Financial). This has been because of terrible performance during 2018 through 2020 thanks to its exposure to coal and Department of Justice and U.K. Serious Fraud Office investigations into regulatory and corruption issues.

Structural Changes for Glencore's Value

Glencore is one of the world's leading diversified mining conglomerate, formed through the combination of Glencore and Xstrata in April 2013. The company currently trades at x5.5 P/E and x0.34 EV/Sales.

Glencore: Deeply Undervalued Dividend Gem

(Kitco News) - On Thursday, Wheaton Precious Metals (TSX, NYSE: WPM) announced that it has entered into a definitive agreement with certain subsidiaries of Glencore to terminate its silver stream on the Yauliyacu mine in Peru.

Wheaton agrees to terminate silver stream on Yauliyacu mine for $150 million from Glencore

Britishvolt, which is developing an electric vehicle battery 'gigafactory' in the north-east of England, has been forced to halt some work and slash costs as it awaits its next injection of funding.  A leaked presentation by the company to investors said the company has put some projects on “life support” as it cuts spending on the £3.8bn project.

UK EV battery-maker backed by Glencore forced to cut costs as funding awaited

Switzerland-based Glencore Plc and other major traders have stopped supplying Chinese metals merchant Huludao Ruisheng over a brewing scandal about missing copper inventories in the port of Qinhuangdao, the Financial Times reported on Friday.

Glencore cuts ties with Chinese trader caught up in scandal over missing copper -FT

The London Metal Exchange (LME) zinc price jumped to a six-week high last week after Glencore warned of the continuing margin squeeze on its European smelters.

Column - Glencore's smelter warning galvanises the zinc price: Andy Home

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Glencore plc (OTCPK:GLCNF) Q2 2022 Earnings Conference Call August 4, 2022 3:00 AM ET Company Participants Martin Fewings - Head, Investor Relations Gary Nagle - Chief Executive Officer Steven Kalmin - Chief Financial Officer Peter Freyberg - Head, Industrial Assets Conference Call Participants Alain Gabriel - Morgan Stanley Liam Fitzpatrick - Deutsche Bank Ian Rossouw - Barclays Jason Fairclough - BofA Dominic O'Kane - JPMorgan Danielle Chigumira - Credit Suisse Myles Allsop - UBS Sylvain Brunet - Exane Paribas Tyler Broda - RBC Capital Markets Operator Ladies and gentlemen, thank you for standing by and welcome to the Glencore Interim Results 2022 Webcast and Conference Call. [Operator Instructions] I must advise you that this conference is being recorded today, August 4, 2022.

Glencore plc (GLCNF) CEO Gary Nagle on Q2 2022 Results - Earnings Call Transcript

The mining company's outperformance will likely persist as long as energy security—and geopolitical risk—remain center stage.

Glencore Is Thriving in a More Dangerous World

Glencore PLC (LSE:GLEN) posted record interim profits and announced a $3bn buyback programme as the war in Ukraine left commodity prices surging. The diversified natural resource company boosted turnover 43% year over year to US$134bn in the first half despite a drop in copper production.

Glencore unveils $3bn buyback programme as profits soar to a record

Miner and trader Glencore said on Thursday it would return $4.5 billion to investors, after it reported half-yearly profit that more than doubled.

Glencore to return $4.5 billion to shareholders

(Kitco News) - Major global miner and commodity trader Glencore (LSE: GLEN) reported today that its own sourced copper production was 510,200 tonnes in H1 2022, down 15% compared to H1 2021.

Glencore says its copper production down 15% in H1, reduces FY2022 copper guidance

Glencore PLC (LSE:GLEN), which was slapped with US$1.5bn of penalties for bribery and corruption earlier this year, has today lowered its guidance for copper production in 2022.   The mining conglomerate reduced its forecast for copper mining by 5%, or 50 kilo-tonnes (kt), “due to the ongoing geotechnical constraints” at its open pit run by subsidiary Katanga Mining in the Democratic Republic of the Congo, including higher levels of acid-consuming ore.

Glencore lowers copper production forecast for 2022

Glencore (LON: GLEN) share price rose for four straight days even as recession risks rose and mining companies published weak results. The shares jumped to a high of 470p, which was the highest level since June 21st.

Glencore share price forecast: Is it a good buy ahead of earnings

The company sold the royalty package of BaseCore Metals LP to Sandstorm Gold Ltd for $425 million in cash and $100 million worth of common equity of Sandstorm. 5.24% forward dividend yield with potential rise in future.

Glencore: 5.24% Dividend Yield Despite Industrial Headwinds

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At Glencore's aging Mt Owen open-cut coal mines north of Sydney, a team of scientists and engineers is restoring woodlands to mined-out fields, aiming to burnish the company's environmental credentials with climate activists and shareholders who want it to back away from coal.

At Australia mine, Glencore balances reforestation drive, coal profit

Glencore PLC (LSE:GLEN) had no official comment after it was found guilty of seven counts of bribery on 21 June. The company pointed instead to a statement on the matter it made in May, and left it at that.

Guilty: but Glencore's latest bribery conviction no longer carries the force it once would

The Glencore (LON: GLEN) share price is bouncing back after the company published strong trading statement as commodity prices jump. It is trading at 478p, which is slightly above this week's low of 462p.

Glencore share price: good fundamentals meet bad technicals

Glencore PLC on Friday raised the price and cost guidance for its coal operations and said the trading business is set to achieve its long-term annual earnings target in the first six months of this year.

Glencore raises coal price, cost guidance amid ‘unprecedented' environment

Glencore PLC (LSE:GLEN) said first-half profits from its marketing operation would exceed what it would normally make in a good year as it continued to benefit from surging commodity prices, particularly coal. In an unscheduled update ahead of the interims in late July, the miner said adjusted earnings before interest and tax (EBIT) from the business would exceed US$3.2bn.

Glencore's marketing arm set for bumper first half as coal prices surge

The mining sector could be a powerful outperformer, if Chinese stimulus can provide a positive economic impulse into 2023, that's according to analysts at Barclays. “Mining tends to outperform in both stagflation and pre-recessionary periods,” Barclays analysts note that stagflationary conditions such as those seen today have preceded 5 out of the last 7 recessions, and, the sector had outperformed consistently.

News for Glencore PLC Stock (GLNCY)