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Christo Visser

By: Martin Creamer     15th December 2017 This week Mining Weekly features Christo Visser, the newly appointed senior VP origination covering Australia, South East Asia, Russia and the CIS 

Glencore bets big on car battery metals

By: Reuters     5th December 2017 Glencore has increased production of the metals used to make electric car batteries faster than its major mining rivals, according to an industry-wide analysis that shows the scale of a strategy that has big prospective risks and rewards. The Anglo-Swiss company's output of cobalt and copper... 

Glencore-Canada venture hitched to low-carbon economy shift

By: Martin Creamer     5th December 2017 The joint venture partnership Glencore struck with a Canadian pension plan on Tuesday provides exposure to commodities that benefit from a low-carbon economy. BaseCore Metals, a 50:50 partnership centred on base metals streams and royalties, involves Glencore Canada Corporation contributing a... 

Glencore is said close to creating mining royalty company

By: Bloomberg     15th November 2017 Glencore is close to finalising a $700-million deal with the Ontario Teachers’ Pension Plan to create a new base-metals royalty company, according to people familiar with the matter. The Swiss commodity giant will bring royalty agreements from about 10 mines, while Ontario Teachers’ will... 

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... 

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... 

Commodity price improvement drives Glencore’s earnings

By: Ilan Solomons     25th August 2017 Diversified mining and marketing company Glencore said “extensive efforts” to reposition its balance sheet and propel the company’s industrial asset portfolio improvements over the last two years were reflected in its strong interim financial performance. The group last week published its... 

There's a key to lithium's future inside a shipping container

By: Bloomberg     11th August 2017 The world’s biggest miners’ determination to muscle into the burgeoning  battery market stepped up a notch with  Rio Tinto Group reporting breakthroughs in cracking the technology needed to unlock its giant lithium project in Serbia that could meet 10% of global demand. Tests at a research... 

Mining companies built on wildcat culture now want to share risk

By: Bloomberg     11th August 2017 Swashbuckling gamblers abound in the mining business, where billions are spent searching for mother lodes in some of the most inhospitable places on the planet. But a prolonged slump in metals and big losses on earlier solo projects are turning top producers into risk-avoiding wallflowers. “The... 

Efforts to reposition balance sheet, price improvements lift Glencore’s H1 earnings

By: Ilan Solomons     10th August 2017 Diversified mining and marketing company Glencore said “extensive efforts” to reposition its balance sheet and propel the company’s industrial asset portfolio improvements over the last two years were reflected in its strong interim financial performance. The group on Thursday published its... 

Elon Musk inspires No.1 miner to target electric vehicle boom

By: Bloomberg     9th August 2017 Observations by Tesla’s Elon Musk on the key role nickel plays in the electric vehicle boom helped inspire the world’s top miner BHP Billiton to invest in new capacity to target rising demand. Amid efforts to improve performance at its nickel operations in Australia, Eduard Haegel, asset... 

Glencore to acquire 49% of Hunter Valley Operations

By: Martin Creamer     27th July 2017 Diversified mining and marketing company Glencore announced on Thursday that it had signed agreements with Yancoal Australia Limited (Yancoal) to acquire a 49% interest in the Hunter Valley Operations (HVO) coal mine in New South Wales and form a joint venture (JV) following Yancoal's acquisition... 

Glencore’s half-year showing prompts analyst gusto

By: Martin Creamer     27th July 2017 Thursday’s half-year production report from diversified mining and marketing company Glencore, which is seen as offering particular leverage to copper and zinc’s currently attractive fundamentals, elicited favourable analyst comment. “Glencore remains our sector top pick,” Barclays Equity... 

Glencore said to draw Liberty House bid for Australian mine

By: Bloomberg     12th July 2017 Liberty House Group, fresh off a deal for Australian steel mill Arrium, is among bidders for a Glencore coal mine that could fetch as much as A$500-million, people with knowledge of the matter said. Liberty House’s GFG Alliance joint venture submitted an indicative offer for the Tahmoor mine by... 

From Tesla cars to underwear, metal makers seek new markets

By: Bloomberg     15th June 2017 The world’s biggest mining companies would like you to put more zinc in your zucchini and copper in your socks and dental floss. While builders and manufacturers remain the biggest metals users, producers are confronting the end of a Chinese industrial boom that fueled surging global demand and... 

Glencore doubles down on coal as mining rivals head for the exit

By: Bloomberg     12th June 2017 Glencore is doubling down on coal, even as rivals BHP Billiton and Rio Tinto Group move away from the world’s dirtiest fossil fuel. The company, run by former coal trader Ivan Glasenberg, made a surprise eleventh-hour $3.5-billion bid for a huge patch of thermal coal-rich ground on Australia’s... 

Owner of $1bn cobalt project says rally is far from over

By: Bloomberg     5th June 2017 Tight cobalt supplies will keep boosting the price of one of this year’s hottest commodities, according to Eurasian Resources Group, which is developing an almost $1-billion project in the Democratic Republic of Congo (DRC). Cobalt jumped 71% this year on surging demand for the metal used in... 

Trump 'has a point' on China's cheap aluminium, Glencore CEO says

By: Bloomberg     2nd June 2017 Donald Trump “has a point” in criticising China’s trade in aluminium and steel as cheap power has effectively been a subsidy to Chinese producers, said Glencore chief Ivan Glasenberg. Trump should be pragmatic in dealing with China, given that it imports a lot of US goods, said Glasenberg... 

Glencore says electric car boom is coming faster than expected

By: Bloomberg     16th May 2017 Glencore CEO Ivan Glasenberg said the rise of electric cars will significantly boost demand for minerals including copper and lithium in the coming decades. “The electric vehicle revolution is happening and its impact is likely to be felt faster than expected,” Glasenberg told investors at an... 

Glencore in pole position to benefit from growing cobalt demand

By: Martin Creamer     1st March 2017 Heightened ownership of the Mutanda and Katanga mines in the Democratic Republic of Congo (DRC) puts cobalt in a strong potential earnings position for Glencore, the world’s dominant supplier of the metal that is attracting attention because of its growing use in electric vehicles (EVs). In an... 

Analysts acclaim Glencore’s performance as good fundamentals return

By: Martin Creamer     23rd February 2017 Commodity market fundamentals are improving against a backdrop of better than expected demand and limited, if any, inventory build through the trough of the cycle, diversified mining and marketing company Glencore said on Thursday. This comes against the background of the London-, Hong Kong- and... 

Glencore’s DRC copper top-up wins analyst cheer

By: Martin Creamer     14th February 2017 Diversified mining and marketing company Glencore has bought the remaining 31% stake in Mutanda Mining for $922-million and a further 10.25% stake in Katanga Mining for $38-million from Dan Gertler’s Fleurette Group, the company’s joint venture partner. The all-cash transaction will result in... 

Glencore maintains 2017 guidance after meeting 2016 targets

By: Natasha Odendaal     2nd February 2017 Diversified natural resources company Glencore on Thursday reported production in line with its guidance for the 12 months ended December 31, on the back of copper, zinc, coal and oil production suspensions. Copper production for the year under review fell 5% to 1.4-million tonnes, with higher... 

Glencore considering bid for Impala’s chrome waste business

By: Bloomberg     1st February 2017 Glencore, the mining and trading firm run by billionaire Ivan Glasenberg, is considering a bid for Impala Platinum Holdings’s 65% stake in a chrome waste-retreatment operation in South Africa, two people familiar with the matter said. Glencore already has an agreement to buy metal from Chrome... 

Glencore's Rosneft deal wins analyst thumbs-up

By: Martin Creamer     8th December 2016 The share price of diversified mining and marketing company Glencore rose in Johannesburg on the news that the company is in final-stage negotiations to buy 19.5% of Russia’s privatised oil company Rosneft for $11-billion together with the Qatar Investment Authority, which is Glencore’s largest... 

Glencore producing zinc at minus cost 

By: Martin Creamer     5th December 2016 Diversified mining and marketing company Glencore is producing zinc at negative cost. Towards the end of this year it has been doing so at -3c/lb and next year it expects to do so at an even better -14c/lb, supported by healthy lead by-product credits. 

Glencore sees nickel shortage as electric vehicle demand burgeons

By: Martin Creamer     2nd December 2016 Diversified mining and marketing company Glencore sees a shortage in nickel arising as a result of burgeoning demand from electric vehicle (EV) production. Batteries used in EVs are consuming about 100 000 t of nickel demand and if 10% of the world’s vehicle fleet transitions to electric power,... 

Diligent Glencore delivers on debt promise, restarts dividend

By: Martin Creamer     1st December 2016 Diversified mining and marketing company Glencore has delivered on last year’s commitment to cut debt and structurally increase the strength of its balance sheet – and it has done so in a way that has preserved the group’s long-term earnings capability.  JP Morgan Cazenove analysts described the... 

Glencore pivots from disposals to dividends as stock rallies

By: Bloomberg     29th November 2016 What a difference a year makes. Glencore fended off questions in 2015 about its survival as commodity prices hit new lows, and now there’s talk that the company’s turnaround plan has gone so well that it could be months away from paying dividends again. Surging coal and zinc prices, a rebounding... 

Third-quarter Glencore coal production down on Optimum disposal

By: Martin Creamer     3rd November 2016 Third-quarter production of diversified major Glencore reflects the various operational suspensions and supply reductions announced and actioned notably in coal, oil, copper and zinc. The London-, Hong Kong- and Johannesburg-listed mining and marketing company, headed by CEO Ivan Glasenberg, said... 

Zwane's 'mystery' Dubai trip

By: News24Wire      3rd November 2016 A series of unused flights during a "mysterious" trip abroad by Mining Minister Mosebenzi Zwane, during which he allegedly escorted a member of the Gupta family to a meeting with an international mining company, may have cost taxpayers nearly R100 000 in possibly fruitless or wasteful... 

Greatest skeptics of coal surge may be the miners themselves

By: Bloomberg     12th October 2016 Surging coal prices have been a surprise blessing for mining companies this year. Few of them seem to believe it will last. The rally has been driven by Chinese policy changes that curbed production rather than any pickup in demand. That means producers who sought to survive a downturn by... 

Greatest skeptics of coal surge may be the miners themselves

By: Bloomberg     12th October 2016 Surging coal prices have been a surprise blessing for mining companies this year. Few of them seem to believe it will last. The rally has been driven by Chinese policy changes that curbed production rather than any pickup in demand 

Glencore reviewing bribery allegations said to involve Gertler

By: Bloomberg     30th September 2016 Glencore, the world’s biggest commodity trader, is reviewing allegations by US authorities regarding the bribery of officials in the Democratic Republic of Congo said to implicate its partner, Israeli-billionaire Dan Gertler. Some of Gertler’s projects in Congo were funded by Och-Ziff Capital... 

The diamond magnate at the heart of Och-Ziff’s Africa ambitions

By: Bloomberg     30th September 2016 Dan Gertler, an Israeli diamond tycoon, gave Och-Ziff access to some of the richest mineral deposits in Africa. Using his close ties to the president of the Democratic Republic of Congo, Gertler developed a virtual monopoly in the country’s diamond exports for a time. He then expanded into other... 

Rio turns China optimist, sees copper’s 'twilight zone' exit

By: Bloomberg     20th September 2016 Rio Tinto, the world’s second-largest mining company, is becoming more optimistic on the outlook for commodities demand in China after recent data pointed to a pickup in the construction market. “The drop that we had experienced for the last two or three years in China seems to have plateaued,”... 

Big miners need a better plan for growth riddle in China

By: Bloomberg     13th September 2016 Rio Tinto Group, the world’s second-biggest miner, is no longer certain of picking the path ahead for growth in China, its biggest customer. It isn’t alone. China’s short-term demand remains difficult to read, Glencore’s CEO Ivan Glasenberg said last month after the largest miners were... 

Supply beginning to tighten, safety dominating mining, top Electra Mining forums

By: Martin Creamer     2nd September 2016 Glencore beleive that tightening supply should bode well for commodity prices; safety trumps profits at Sibanye presentation; high-impact forums are on offer at this month's Electra Mining Africa show  

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