Glencore plc
Glencore plc
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Glencore has been issued with a financial penalty and costs amounting to £281M by a London court after admitting to five counts of bribery and two of failure to prevent bribery under the UK Bribery Act.
The decision of the Southwark Crown Court is part of a coordinated settlement amounting to about $US1.5B with US, UK and Brazilian authorities.
The company is continuing to cooperate with similar investigations in Switzerland and the Netherlands into past bribery and market manipulation allegations.
BHP has set a deadline of mid-2030 to cease mining at Australia’s largest openpit thermal coal mine after a two-year process seeking a trade sale failed to come up with a viable offer.
Japan's Marubeni Corp and J-POWER will fund $A20M ($US14.4M) in a carbon capture/storage project owned by global miner/commodities dealer Glencore in Australia, Reuters reports.
Glencore's carbon capture/storage project in Queensland will capture carbon dioxide from the Millmerran coal power plant and store it underground. The investment pair, which also operate J/V projects with Glencore in Australia, will contribute $10M each to the project.
Global miner/trader Glencore declares it is a different company after agreeing to pay $US1.2B in penalties and costs to resolve a series of international probes into past bribery and market manipulation allegations.
Global miner and commodity trader Glencore has agreed to pay nearly $US1.2B in penalties and costs to the US, UK and Brazilian governments to resolve past bribery and market manipulation charges, with additional fines to come after pleading guilty to British fraud charges.
The company is still facing investigations in Switzerland and the Netherlands.
Glencore says it has cooperated with the US, UK and Brazilian investigations.
Global diversified natural resource company Glencore and big vehicle manufacturer General Motors have signed a multi-year sourcing agreement in which Glencore will supply GM with cobalt from its Murrin Murrin operation in Australia.
Cobalt is an important metal in the production of EV (Electric Vehicle) batteries and the cobalt processed from Australia will be used in GM’s Ultium battery cathodes, which will power electric vehicles such as the Chevrolet Silverado EV, GMC HUMMER EV and Cadillac LYRIQ.
Australian explorer Comet Resources is targeting the near-term production potential after executing a binding $A20M cash-plus-shares agreement with Glencore to acquire the inactive Mt Margaret copper project near Cloncurry in Qld.
The openpit mine was a substantial producer for two years before Glencore placed it on care and maintenance in 2014 due to the copper price environment and outlook.
KGL Resources has entered into a binding sales agreement with major global diversified natural resources company Glencore for the sale of 100% of the copper concentrate produced from KGL's high-grade Jervois Copper Project in Australia’s Northern Territory.
Global commodity miner and trader Glencore has committed to acquire 60% of future copper concentrate production from Hot Chili’s wholly owned Costa Fuego copper-gold project in Chile. The 8-year deal commences with first commercial production.
While Glencore holds 9.96% of Hot Chili following a $A14.4M investment in mid-2021, the offtake will be on arms-length commercially competitive benchmark terms.
Western Australia-based miner IGO’s talks with global resources major Glencore on the potential IGO acquisition of the CSA Copper Mine at Cobar in Australia’s NSW, have ended with no commercial agreement being reached.
The CSA operation is one of the country’s longest-operating and highest-grade copper mines, which currently mines and processes close to 50,000tpa for export through Newcastle Port to Asian smelters.