https://www.miningweekly.com

BUYBACK OUT OF STARTING BLOCK

29th August 2014

By: Darlene Creamer

  

Font size: - +

Miner and marketer Glencore is earning kudos for making a firm share buy-back commitment. A host of mining analysts heaped lavish praise on the London-, Hong Kong- and now also Johannesburg-listed company for putting the buy-back programme under starter’s orders and then providing daily updates on the number of shares transacted. The company, headed by South African-born CEO Ivan Glasenberg, has now returned more to the market than the $7.9-billion it raised at its initial public offering. “Finally, someone is listening to shareholders,” said Barclays mining analysts. “It’s refreshing,” said BMO Capital. Some quibbled at the amount, however, which had Glasenberg explaining that, with last month’s nigh-$700-million convertible bond buy-back plus the company’s latest dividend, the amount returned to shareholders was more like $2-billion.

Comments

Showroom

John Thompson
John Thompson

John Thompson, the leader in energy and environmental solutions through value engineering and innovation, provides the following: design, engineer,...

VISIT SHOWROOM 
Actom image
Actom

Your one-stop global energy-solution partner

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Hyphen, Eva mine, ferrochrome price make headlines
Hyphen, Eva mine, ferrochrome price make headlines
27th March 2024
Resources Watch
Resources Watch
27th March 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.119 0.158s - 87pq - 2rq
Subscribe Now