Glencore plc
Glencore plc
Full text is available to Level 2 subscribers only
Subscribe to Mining Business Media
Full access to Mining Business Media's unique blend of global mining sector news and commentary is available by subscription only.
$A275.00 per year*
(*up to 10 users)
GST included in Australia
Direct debit/cheque/credit card:
Click here
Subscription inquiries, email subscribe@miningbusiness.net or call 61+413 772 044.
Related Content
Global commodity trader/miner Glencore plans to restart operations at Mutanda - the world's biggest cobalt mine that also produces large amounts of copper - in the Democratic Republic of Congo next year, Reuters reports.
Glencore, one of the world's largest copper producers and leading cobalt producer, said in February the process to resume production at Mutanda was underway, but did not give a specific date.
Australian construction and services group Wagners has won a four-year contract renewal with Glencore's Mount Isa Mines hauling zinc ore and tailings between the George Fisher and Lady Loretta mines and its metal processing facility in NW Qld.
Wagners secured the contract renewal, covering up to 28Mt over four years, it has held since 2016 through competitive tendering.
(DEVELOPMENT)
Miners line up for a chance to capture a significant share of the rapidly growing global demand for low-emissions renewable hydrogen to power plant and vehicles, replace fossil fuels to reduce carbon emissions and potentially take over power supply in remote areas.
Japan’s Mitsubishi Corporation has joined multinational resource operator Glencore to assess the development potential for the 357Mt Aurukun bauxite project on the Cape York Peninsula in Qld, Australia.
The agreement to acquire a 30% stake in the potential 8Mtpa, 20-year project is the first investment in the mining of bauxite by Mitsubishi, in addition to its existing aluminium smelting and trading operations.
CEO Ivan Glasenberg has credited an outstanding marketing performance amid the extraordinary challenge of the COVID-19 pandemic for global miner/trader Glencore’s adjusted EBIT of $US4.42B for the Dec half-year (H1FY21), up from $4.15B a year earlier, on revenue that declined by 34% to $142.34B (H1FY20: $215.11B).
Adjusted EBITDA was steady at $11.56B ($11.6B) while attributable NLAT widened to $1.9B ($0.4B).
The fall-out from the COVID-19 restrictions has been a major contributor to just 3 of global miner/trader Glencore’s commodities -- zinc, gold and silver – lifting output from the company’s own sources in the Dec 2020 year (FY/CY 20) on FY/CY 19.
Australian privateer Nathan River Resources has appointed contractor NRW to conduct drill and blast, load and haul, clearing and grubbing, topsoil and subsoil removal and rehandling of ore stockpiles at its recently revived Roper Bar iron ore mine in the NT.
The 33-month contract is valued at $A123M.
Global natural resource producer and marketer Glencore has announced the retirement of CEO Ivan Glasenberg. The South African billionaire businessman will step down as an executive and director in the first half of 2021 from the company he has led for almost 20 years.
His replacement as CEO and board member will be Gary Nagle, 45, who is currently the Sydney-based head of Glencore’s global coal business. Nagle will relocate to Switzerland in early 2021 for the transition.
Glencore, the world's biggest thermal coal trader, plans to lay off contractors at its coal operations in Australia's New South Wales state due to a prolonged market downturn, Reuters reports.
The company says contractors at the Hunter Valley Operations (HVO) will depart next month. The miner holds a 49% stake of the J/V with Yancoal.
Global mining services provider Thiess has again extended its long operational involvement with the Mount Owen thermal coal mine in Australia’s Hunter Valley, which started in 1994 when it built the mine complex, with the award by Glencore of an 18-month extension of its mine planning, design and execution, drill and blast, overburden removal and coal mining services.
The additional work at Mount Owen, the largest of Thiess’s three coal mining operations in NSW, will generate revenue of $A340M.