Glencore

  • Mercuria and Glencore Secure Copper Supply from Congo’s State Miner

    BY Lars Jensen
    Mercuria Energy Group and Glencore have renewed agreements to purchase copper from the Democratic Republic of Congo’s state mining company, Gecamines, following the company’s decision to independently market its share of output from joint ventures. The two trading firms secured deals to buy copper from the Tenke Fungurume mine, a major operation majority-owned by China’s...
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  • Glencore Reports $998M Loss in 2024 Amid Rising Costs

    BY Lars Jensen
    The company cited an “other expense” of $2.12 billion, a 67% increase from 2023, which included $445 million in foreign exchange losses, $295 million in legal and government proceedings, and $870 million in site rehabilitation provisions. Commodity price movements varied in 2024: Despite the loss, CEO Gary Nagle highlighted a strong operational year, with production...
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  • Glencore Reports Full-Year 2024 Production Results

    BY Sophia Schmitz
    Glencore has released its full-year 2024 production report, highlighting a year of operational progress and strategic acquisitions. CEO Gary Nagle emphasized the importance of the acquisition of EVR and shareholder support for retaining Glencore’s coal business. The company saw a net addition to its mineral reserve base, particularly in copper at Antamina, bauxite at MRN,...
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  • Rio Tinto and Glencore in Early Talks for Record-Breaking Merger

    BY Lara Browne
    Two of the world’s largest mining companies, Rio Tinto and Glencore, are reportedly in early-stage discussions about a potential merger valued at an estimated £130 billion. If successful, the deal would create the world’s largest mining company, surpassing current leader BHP, which is valued at approximately $126 billion (£103 billion). The merger would combine Rio...
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  • Two Bidders Emerge for Glencore’s Stake in New Caledonia’s Koniambo Nickel

    BY Lara Browne
    Two potential buyers have submitted offers for Glencore’s 49% stake in the struggling New Caledonian nickel producer Koniambo Nickel SAS (KNS), the company announced. The bids follow site visits conducted by the interested parties between late October and early December 2024. KNS President Alexandre Rousseau confirmed that shareholder evaluations of the proposals are underway but...
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