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China marks cobalt, copper ascendancy in Congo with new group

By: Bloomberg     19th June 2018 More than 30 Chinese companies active in the Democratic Republic of Congo formed a business association backed by both countries’ governments, further cementing China’s ascendancy in copper and cobalt production in the central African nation. The 35-member Union of Mining Companies with Chinese... 

Katanga ramps up DRC copper, cobalt production as legal woes mount

By: Henry Lazenby     15th May 2018 Commodity giant Glencore’s majority owned and publicly traded Democratic Republic of Congo- (DRC-) focused copper/cobalt unit Katanga Mining is ramping up output after resuming production from the Phase 1 whole ore leaching project on December 11, the company reported on Tuesday. Katanga will... 

Congo court suspends Gecamines bid to dissolve Glencore unit

By: Bloomberg     8th May 2018 A Democratic Republic of Congo court suspended proceedings by State-owned mining company Gecamines to dissolve a unit of Glencore until next month. The Commercial Court in Kolwezi, in southeastern Congo, ordered the suspension while it awaits a June 15 ruling by the Supreme Court on its... 

War on coal is making the world's top mine owners a lot richer

By: Bloomberg     2nd May 2018 The world’s war on coal is making its biggest producers a lot richer, at least for now. With governments from Asia to Europe setting stricter pollution limits as the climate change debate intensifies, output of the planet’s dirtiest fuel is dropping. Some of the more significant declines are... 

Women at Glencore oil trading unit earn 28% less than men

By: Bloomberg     23rd March 2018 Women working in oil trading at Glencore earn 28% less pay on average than men and receive bonuses that were 57% lower. The income disparity, disclosed by the second-biggest independent oil trader under UK government-mandated pay gap reporting, underscores the lack of women in senior roles at... 

Glencore sees nickel in best shape in decade before EVs take off

By: Bloomberg     21st November 2017 Glencore is seeing the best market conditions for nickel in at least a decade, and electric cars are barely playing a part yet. The miner and trading giant expects nickel’s 2017 deficit at 170 000 metric tons -- one of the biggest in years and more than most market estimates – to be driven by a... 

Battery boom relies on one African nation avoiding chaos of past

By: Bloomberg     27th October 2017 The cars of the future will depend increasingly upon supplies of an obscure metal from a country in the African tropics where there has never been a peaceful transition of power and child labor is still used in parts of the mining industry. Most major automakers are pledging to build millions of... 

Ferrexpo pellet production down owing to maintenance

By: Creamer Media Reporter      5th October 2017 Baar, Switzerland-headquartered Ferrexpo produced 2.49-million tonnes of iron-ore pellets in third quarter, down 1.7% on the 2.54-million tonnes in the second quarter, in line with ongoing pellet line maintenance. Production for the first nine months of the year was 7.65-million tonnes, compared... 

Open Mineral Exchange revolutionises commodity trading through innovative online platform 

By: Henry Lazenby     4th October 2017 A group of former traders at commodity giant Glencore has created an innovative new cloud-based mineral exchange to make it easier for producers and users to trade physical commodities – cutting out the often costly middle man. “We are reinventing the industry,” Open Mineral Exchange (OME) COO... 

Glencore to lift stake in Peruvian zinc producer

By: Henry Lazenby     3rd October 2017 Following on the heels of its divestment of its Africa-based zinc assets, global mining major Glencore has reached agreement with three shareholders of Peru’s biggest zinc producer Volcan Compañia Minera to increase its stake, the vertically integrated company revealed on Tuesday. Volcan’s... 

Glasenberg emerges from Rosneft flip with oil deal and medal

By: Bloomberg     12th September 2017 Nine months after surprising the world with an $11-billion venture to buy a stake in Russia’s state oil company, Glencore is selling most of it and emerging from the deal with a valuable crude supply contract and political ties in Moscow burnished. The companies announced on Friday that the... 

World's richest mines slipping from hands of multinationals

By: Bloomberg     5th September 2017 Outnumbered and outflanked, Freeport-McMoRan CEO Richard Adkerson made an about-face. Only months before, Adkerson had dismissed the idea of selling a majority stake in the Phoenix-based company’s flagship Indonesian copper-and-gold mine to local investors. But, seated beside government officials... 

Congo backs billionaire Gertler after Och-Ziff allegations

By: Bloomberg     5th October 2016 The Democratic Republic of Congo (DRC) defended Israeli-billionaire Dan Gertler’s business dealings in the mineral-rich country, five days after he was linked to a bribery investigation by US authorities. “For us an attack on him is an attack on the Congo,” Barnabe Kikaya Bin Karubi, President... 

DRC's Gecamines plans Chinese joint venture at main asset

By: Bloomberg     16th June 2016 Gecamines, the Democratic Republic of Congo’s (DRC's) State-owned miner, is in talks to give China Nonferrous Metal Mining Group a majority stake in its most prospective copper asset. CNMC will finance, build and operate a copper-processing facility at the Deziwa concession in return for a 51%... 

GlencoreXstrata keen to boost position in coal

By: Martin Creamer     14th March 2014 GlencoreXstrata CEO Ivan Glasenberg, who served in the old Glencore for 22 years prior to the merger with Xstrata, is a coal bull who is keen to boost the company’s coal position in South Africa. The Switzerland-domiciled but South African-born Glasenberg spent many a trading day in the... 

GlencoreXstrata keen to boost position in coal

By: Martin Creamer     14th March 2014 GlencoreXstrata CEO Ivan Glasenberg, who served in the old Glencore for 22 years prior to the merger with Xstrata, is a coal bull who is keen to boost the company’s coal position in South Africa. The Switzerland-domiciled but South African-born Glasenberg spent many a trading day in the... 

Glencore Xstrata outlines integration initiatives

By: Natalie Greve     3rd May 2013 The newly formed Glencore Xstrata has confirmed that integration initiatives are under way, with clear leadership and reporting lines already in place and an industrial asset portfolio review currently in progress. The combination of commodities trader Glencore and producer Xstrata created a... 

INVESTORS VOTE TODAY

By: Martin Creamer     7th September 2012 A van exits the headquarters of Glencore International plc in Baar, Switzerland, ahead of today’s – September 7 – investor vote for Glencore's planned takeover of Zug, Switzerland-based Xstrata plc. It has a 60% chance of being rejected, UBS AG said. Picture Bloomberg 

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