Glencore Share Discussion Threads

[losses] 31/10/2018 06:19

Glencore hikes coal cost savings forecast by 50 percentHttps://finance.yahoo.com/news/glencore-hikes-coal-cost-savings-015305454.html

[waldron] 30/10/2018 16:51

Rio Tinto
3,720 -0.11%


BHP Billiton
1,533.6 +0.13%


Anglo American
1,627.4 -0.22%


Glencore
306.7 -0.49%

Gold COMEX 1,224.70 -0.53%
Silver COMEX 14.47 +0.03%
Copper COMEX 2.67 -1.46%
Brent Crude Oil NYMEX 76.10 -1.04%

[waldron] 29/10/2018 16:50

Rio Tinto
3,731.5 +1.83%


BHP Billiton
1,533.8 +1.00%



Anglo American
1,632.8 +1.03%


Glencore
308.85 +2.10%


Gold COMEX 1,231.00 -0.36%
Silver COMEX 14.59 -0.78%
Copper COMEX 2.74 -0.44%
Brent Crude Oil NYMEX 77.49 -0.35%

[maywillow] 27/10/2018 16:50

26/10/2018 | 8:47

Zurich (awp) - Glencore saw a general increase in production at the end of the third quarter, with two exceptions. Zinc mining was sealed by the divestment of activities in Africa. A drop in field yields in Equatorial Guinea weighed on oil production.

Copper production after nine months increased 12% year-on-year to 1.06 million tonnes. That of cobalt rose by 44% to 8700 tonnes. The increase recorded for this material, widely used in the manufacture of batteries, is explained by the resumption of operations in the Katanga site in the Democratic Republic of Congo.

An increase is also recorded for nickel, whose production reached 90'900 tonnes (+ 13%). The start of a second production line in Koniambo, New Caledonia, benefited Glencore. Ferrochrome extraction remained stable at 1.15 million tonnes.

On the coal side, Glencore claims a volume of 96.7 million tonnes, up 6%. This increase reflects the acquisition of mines in Australia this year and more favorable weather conditions in this country. The ongoing restructuring with the Prodeco subsidiary has somewhat eroded these positive effects.

The balance sheet is more mixed for zinc production, which has dropped from 5% to 786,000 tonnes. The "strong mining performance" at the McArthur River site and the resumption of activity at Lady Loretta, both in Australia, did not offset the sale of assets in Africa to Trevali Mining.

Glencore extracted 3.4 million barrels of oil, or -14% over one year. The downturn is caused by a lower yield of the fields in Equatorial Guinea, which an increase in production in Chad could not compensate.

In terms of targets for 2018, the group expects its copper production to reach 1.47 million tonnes, which represents an increase of one fifth. The expected increase for coal mining is less important, + 3% to 132 million tons.

The number of barrels produced should fall to 4.6 million units, against 5.1 million in 2017 (-0.2%).

Operating profit (EBIT) for trading activities is expected to be in the high end of the range of $ 2.2 billion to $ 3.2 billion.

[waldron] 26/10/2018 17:01

Rio Tinto
3,664.5 +0.25%



BHP Billiton
1,518.6 -0.03%



Anglo American
1,616.2 -0.33%


Glencore
302.5 -0.12%



Gold COMEX 1,242.70 +0.66%
Silver COMEX 14.76 +0.68%
Copper COMEX 2.74 -0.60%
Brent Crude Oil NYMEX 77.48 +1.10%


THE WEEK ENDETH IN THE 280 to 310p BOX

[adrian j boris] 26/10/2018 09:49

Glencore Quarterly Coal, Copper Output Up; Oil Outlook Cut
Fri, 26th Oct 2018 08:24


LONDON (Alliance News) - Glencore PLC said on Friday third-quarter coal and copper production was up on last year, as it held its annual guidance, with the exception of oil due to an unplanned stoppage at the Mangara field in Chad.

Own-sourced copper production of 1.1 million tonnes in the three months to September 30 was up 12% on last year, while own-sourced cobalt production was 44% higher than last year at 28,500 tonnes.

Own-source zinc production was down 5% on last year to 786,000 tonnes, reflecting assets sold to Trevali Mining, which was partly offset by a strong mining performance at McArthur River and the restart of mining at Lady Loretta, both in Australia. Adjusting for the disposal, zinc production was up 7%.

Coal production of 96.7 million tonnes was 5.7 million tonnes, or 6%, higher than last year. This was largely due to the acquisition of interests in the HVO and Hail Creek mines in Australia earlier this year, as well as a recovery in Australia from weather-related disruption and industrial action in 2017.

These boosts were, however, countered to some extent by reduced production at Prodeco in Colombia as additional overburden removal was carried out to optimise production and costs going forward.

Entitlement interest oil production of 3.4 million barrels was 14% below last year, due to natural field decline in Equatorial Guinea.

Glencore broadly left its production guidance unchanged for 2018, though oil guidance was lowered by 6% and is now expected to be around 4.6 million barrels due to a one-month unplanned stoppage at the Mangara field in Chad. The field is now back online and fully operational.

The miner plans to produce around 1.5 million tonnes of copper, 132 million tonnes of coal and 1.1 million tonnes of zinc in 2018.

By Lucy Heming; [e-mail]

[grupo] 26/10/2018 08:16

PROACTIVEINVESTORS

Glencore's third quarter copper and cobalt output grows, trims oil outlook
07:53 26 Oct 2018
The miner and trader cut its oil production guidance by 6% and now expects it to come in at around 4.6mln barrels due to a one-month unplanned stoppage at the Mangara field in Chad.
Glencore's third quarter copper and cobalt output grows, trims oil outlook
Glencore reported that Q3 copper production rose by 12% - or 116,600 tonnes - on the same period in 2017

Glencore PLC (LON:GLEN) reported a rise in copper and cobalt production during its third quarter but cut its full year oil production guidance.

The miner and commodities trader said on Friday that copper production rose by 12% - or 116,600 tonnes - to 1,063,100 tonnes during the period, while cobalt output rose by 44% - 8,700 tonnes - to 28,500 tonnes, following the restart of Katanga's processing operations.
READ: Glencore sees charges cut for Newcastle Port coal shipments

The company said its own source zinc production came in at 786,000 tonnes during the period, which was 5% - or 41,400 tonnes – lower than in the same period a year ago. This reflected the loss of 92,100 tonnes of zinc relating to the African assets sold to Trevali Mining, partly offset by a strong mining performance at McArthur River and the restart of mining at Lady Loretta (Mount Isa).

Glencore said own source nickel production rose 13% to 90,900 tonnes, reflecting the progressive ramp-up of Koniambo, with its second production line. It added that attributable ferrochrome production of 1,145,000 tonnes was in line with the comparable 2017 period.

Coal production rose 6% to 96.7mln tonnes due to the acquisition of interests in the HVO and Hail Creek mines in Australia in May and August 2018 respectively and the recovery in Australia from weather-related disruption and industrial action in 2017. These factors were partly offset by reduced production at Prodeco as additional overburden removal is carried out to optimise production and costs going forward, it said.

Entitlement interest oil production of 3.4 million barrels was 14% below the comparable 2017 period, mainly reflecting the natural field decline rate in the liquids phase at the offshore fields in Equatorial Guinea, partly offset by increased production in Chad.

Glencore left its production guidance unchanged for 2018 largely unchanged, though oil guidance was lowered by 6% and is now expected to be around 4.6mln barrels due to a one-month unplanned stoppage at the Mangara field in Chad.

[foxy22] 26/10/2018 08:15

Cobalt production surges

[redtom1] 26/10/2018 08:02

Rather disappointing results....

[grupo] 26/10/2018 07:22

GLENCORE PLC

NEWS RELEASE

Baar, 26 October 2018

Third Quarter 2018 Production Report

Highlights

To view the full report please click here:

hxxp://www.glencore.com/dam/jcr:fff530fd-f091-4e65-8603-51adb6dc6603/GLEN-2018-Q3-ProductionReport.pdf

-- Own sourced copper production of 1,063,100 tonnes was 116,600 tonnes (12%) higher than the comparable 2017 period and own sourced cobalt production of 28,500 tonnes was 8,700 tonnes (44%) higher, mainly reflecting the restart of Katanga's processing operations.

-- Own source zinc production of 786,000 tonnes was 41,400 tonnes (5%) down on the comparable 2017 period, reflecting 92,100 tonnes of zinc in the base period relating to the African assets sold to Trevali Mining, partly offset by a strong mining performance at McArthur River and the restart of mining at Lady Loretta (Mount Isa). Adjusting for the disposal, zinc production was up 50,700 tonnes (7%).

-- Own sourced nickel production of 90,900 tonnes was 10,200 tonnes (13%) higher than the comparable 2017 period, mainly reflecting the progressive ramp-up of Koniambo, with its second production line.

-- Attributable ferrochrome production of 1,145,000 tonnes was in line with the comparable 2017 period.

-- Coal production of 96.7 million tonnes was 5.7 million tonnes (6%) higher than the comparable 2017 period, reflecting the acquisition of interests in the HVO and Hail Creek mines in Australia in May and August 2018 respectively and the recovery in Australia from weather-related disruption and industrial action in 2017. These factors were partly offset by reduced production at Prodeco as additional overburden removal is carried out to optimise production and costs going forward.

-- Entitlement interest oil production of 3.4 million barrels was 0.5 million barrels (14%) below the comparable 2017 period, mainly reflecting the natural field decline rate in the liquids phase at the offshore fields in Equatorial Guinea, partly offset by increased production in Chad.

[purplepanther] 26/10/2018 07:20

Looks a solid report - as much as 14% growth in copper production this year

[scoble2] 26/10/2018 07:15

Very good results

[waldron] 25/10/2018 17:45

BUYBACKS COMING ALONG SLOWLY BUT SURELY

USD 1.16 BILLION OF 2

2018/19 share buy-back programme

On 5 July 2018, Glencore plc commenced a share repurchase or buy-back programme of up to USD1 billion (the “Programme”) in the period to 31 December 2018. On 25 September 2018, Glencore plc further announced an increase in the size of the Programme by an additional amount of up to USD1 billion and the extension of the duration of the programme until the close of dealings on 20 February 2019.






Broker Forecast - Societe Generale issues a broker note on Glencore PLC
By BFN News | 12:40 PM | Thursday 25 October, 2018

Factsheet Glencore PLC Ord USD0.01 (GLEN)


Societe Generale today reaffirms its buy investment rating on Glencore PLC (LON:GLEN) and cut its price target to 370p (from 420p). Story provided by StockMarketWire.com Broker Forecasts data provided by www.sharesmagazine.co.uk




Rio Tinto
3,656.5 +1.58%

BHP Billiton
1,519.4 +1.93%


Anglo American
1,622.8 +1.02%


Glencore
302.65 +1.59%

Gold COMEX 1,232.50 -0.32%
Silver COMEX 14.66 -0.27%
Copper COMEX 2.76 +0.67%
Brent Crude Oil NYMEX 76.67 +1.33%
Gasoline NYMEX 1.81 +0.58%
Natural Gas NYMEX 3.26 +0.55%


Still sitting in the 280 to 310p BOX
All to be confirmed by friday close

[waldron] 25/10/2018 16:49

Rio Tinto
3,656.5 +1.58%

BHP Billiton
1,519.4 +1.93%


Anglo American
1,622.8 +1.02%


Glencore
302.65 +1.59%

Gold COMEX 1,232.50 -0.32%
Silver COMEX 14.66 -0.27%
Copper COMEX 2.76 +0.67%
Brent Crude Oil NYMEX 76.67 +1.33%
Gasoline NYMEX 1.81 +0.58%
Natural Gas NYMEX 3.26 +0.55%


Still sitting in the 280 to 310p BOX
All to be confirmed by friday close

[waldron] 25/10/2018 15:45

Broker Forecast - Societe Generale issues a broker note on Glencore PLC
By BFN News | 12:40 PM | Thursday 25 October, 2018

Factsheet Glencore PLC Ord USD0.01 (GLEN)


Societe Generale today reaffirms its buy investment rating on Glencore PLC (LON:GLEN) and cut its price target to 370p (from 420p). Story provided by StockMarketWire.com Broker Forecasts data provided by www.sharesmagazine.co.uk

[waldron] 25/10/2018 15:40

BUYBACKS COMING ALONG SLOWLY BUT SURELY

USD 1.16 BILLION OF 2

2018/19 share buy-back programme

On 5 July 2018, Glencore plc commenced a share repurchase or buy-back programme of up to USD1 billion (the “Programme”) in the period to 31 December 2018. On 25 September 2018, Glencore plc further announced an increase in the size of the Programme by an additional amount of up to USD1 billion and the extension of the duration of the programme until the close of dealings on 20 February 2019.

[redtom1] 25/10/2018 15:22

Production Report is definitely tomorrow. Let's hope it makes good reading!

[purplepanther] 25/10/2018 15:00

At the risk of boring everyone on the thread one can start to understand why China might be stockpiling copper when their electric vehicle sales were over 1 million last year - a factor of FIVE times that of the US market and growing at 50% versus 25% growth in the states.And copper used in all electric vehicle sales amounted to 11,700 tonnes in 2016 and is forecast to rise to 1,700,000 tonnes by 2027.And the implications of that for a metal already about to move to a supply deficit are gonna be enormous

[twixy] 25/10/2018 14:15

I read an RNS saying Oct 26th for 3rd quarter production report; I think it was at the start of Oct

[waldron] 25/10/2018 13:06

PERHAPS MIGHT HAVE NEWS TOMORROW