DARTING AHEAD:

24th August 2018 By: Martin Creamer - Creamer Media Editor

DARTING AHEAD:

Diversified mining and marketing company Glencore is darting ahead of its US Department of Justice (DoJ) and Democratic Republic of Congo (DRC) mining code issues. Most of the commodities in the basket of the London- and Johannesburg-listed company are set to grow, notes Goldman Sachs Equity Research. Glencore has the highest volume growth among diversified miners, a competitive advantage in the current inflationary environment, states Exane BNP Paribas Research. “Solid performance from Katanga,” states Barclays, referring to the copper/cobalt operation in the risk-perceived DRC. “Expect further improvement in the second half,” says Bernstein. The attractive fundamentals of the company’s equity story remain intact, foretelling value when the DoJ subpoena cloud lifts.