Glencore Share Discussion Threads

[fernandesb] 17/11/2018 12:31

Dremel you are spot on, wish others had the common sense to see things from your point of view.Every years we remember the fallen in 2 world wars,they must be turning in their graves at what is going on in the uk today,Knife crime,all the Criminals targeting the Elderly,Financial Fraud,where Pensioners are robbed of their life savings,Drug Mafia operating from Eastern Europe,Young girls being "Groomed" by Asian Gangs,money and benefits handed over to people who have never worked and contributed to the National "Pot" and the list goes on

[maywillow] 17/11/2018 10:55

Star Business Journal

Congo lifts export ban on Glencore’s copper and cobalt unit
By William ClowesBloomberg
Thomas Biesheuvel
Fri., Nov. 16, 2018

A Glencore Plc unit in the Democratic Republic of Congo had a ban on imports and exports from its giant copper and cobalt mine lifted by authorities in the country.

“They submitted a request,” Jean Baptiste Nkongolo Kabila, director general of Congo’s custom’s agency, said Thursday by phone. “I have taken the decision to temporarily lift the suspension measures.”
An open pit excavation at the Mutanda copper-cobalt mine in Mutanda, Katanga province, Democratic Republic of Congo.
An open pit excavation at the Mutanda copper-cobalt mine in Mutanda, Katanga province, Democratic Republic of Congo. (Simon Dawson / Bloomberg file photo)

Katanga Mining Ltd., which is controlled by Glencore, said in a statement earlier Thursday it had been blocked on Nov.9 from exporting copper and cobalt from Congo over a dispute around payments on copper that was never actually mined years ago. The Congo government is asking for $129.8 million (U.S.) to settle the dispute, a number rejected by Katanga.

Katanga Mining and its Kamoto copper and cobalt mine is one of Glencore’s most important growth projects. It restarted production in December after a two-year hiatus during which it invested in new processing facilities. It had expected to produce as much as 300,000 metric tons of copper and 34,000 tons of cobalt in 2019, which would make it Congo’s largest copper project and the world’s biggest source of cobalt.

Uranium Detected

Last week, Katanga halted sales of cobalt after detecting levels of uranium in supplies above those allowed for export. While it doesn’t plan to resume exports until the second half of next year, it will continue to mine and stockpile cobalt. Katanga’s junior partner at Kamoto, state-owned Gecamines, said Wednesday it wasn’t informed of the decision to stop cobalt sales.

The order from the custom’s agency to stop all imports and exports was Glencore’s latest challenge in Congo in 2018. Earlier this year, it agreed to a $5.6 billion debt-to-equity swap at Katanga, effectively reducing the debt load of the subsidiary which Glencore co-owns with Gecamines. That deal also included a one-time payment of $150 million to Gecamines that raised concerns with some investors and non-governmental organizations.

A spokesman for Glencore declined to comment.

Katanga rose after the news that the ban would be lifted, climbing as much as 18 per cent, after earlier falling the same amount. The shares were up 2.3 per cent as of 2:09 p.m. in Toronto.

[leoneobull] 17/11/2018 10:39

Lemme guess. They need us more than we need them? We've hardly had the upper hand have we?

[leoneobull] 17/11/2018 10:37

https://www.thetimes.co.uk/article/5630fb56-e8f4-11e8-a9c0-ffbf0f2a8629Excellent article about the Brexit fallacy

[waldron] 16/11/2018 16:57

Rio Tinto
3,910 +2.88%


BHP Billiton
1,606.8 +1.12%


Anglo American
1,702.8 +1.14%


Glencore
297.5 -0.12%


Gold COMEX 1,221.40 +0.53%
Silver COMEX 14.32 +0.40%
Copper COMEX 2.76 +0.47%
Brent Crude Oil NYMEX 67.17 +0.83%
Gasoline NYMEX 1.57 +1.60%
Natural Gas NYMEX 4.18 +3.62%



Stuck in the 280 to 310p BOX

[waldron] 16/11/2018 07:32

Congo Lifts Export Ban on Glencore's Copper and Cobalt Unit
By William Clowes
and Thomas Biesheuvel
15 novembre 2018 à 20:45 UTC+1

Katanga Mining unit earlier said its exports had been halted
Congo’s customs unit says suspension is temporarily lifted

BLOOMBERG
In this article
GLEN
GLENCORE PLC
297.85
GBp
+6.25+2.14%
HG1
Generic 1st 'HG' Future
275.60
USd/lb.
+0.95+0.35%
KAT
KATANGA MINING L
0.46
CAD
+0.02+4.55%

A Glencore Plc unit in the Democratic Republic of Congo had a ban on imports and exports from its giant copper and cobalt mine lifted by authorities in the country.

“They submitted a request,” Jean Baptiste Nkongolo Kabila, director general of Congo’s custom’s agency, said Thursday by phone. “I have taken the decision to temporarily lift the suspension measures.”

Katanga Mining Ltd., which is controlled by Glencore, said in a statement earlier Thursday it had been blocked on Nov.9 from exporting copper and cobalt from Congo over a dispute around payments on copper that was never actually mined years ago. The Congo government is asking for $129.8 million to settle the dispute, a number rejected by Katanga.

Katanga Mining and its Kamoto copper and cobalt mine is one of Glencore’s most important growth projects. It restarted production in December after a two-year hiatus during which it invested in new processing facilities. It had expected to produce as much as 300,000 metric tons of copper and 34,000 tons of cobalt in 2019, which would make it Congo’s largest copper project and the world’s biggest source of cobalt.
Uranium Detected

Last week, Katanga halted sales of cobalt after detecting levels of uranium in supplies above those allowed for export. While it doesn’t plan to resume exports until the second half of next year, it will continue to mine and stockpile cobalt. Katanga’s junior partner at Kamoto, state-owned Gecamines, said Wednesday it wasn’t informed of the decision to stop cobalt sales.

The order from the custom’s agency to stop all imports and exports was Glencore’s latest challenge in Congo in 2018. Earlier this year, it agreed to a $5.6 billion debt-to-equity swap at Katanga, effectively reducing the debt load of the subsidiary which Glencore co-owns with Gecamines. That deal also included a one-time payment of $150 million to Gecamines that raised concerns with some investors and non-governmental organizations.

A spokesman for Glencore declined to comment.

Katanga rose after the news that the ban would be lifted, climbing as much as 18 percent, after earlier falling the same amount. The shares were up 2.3 percent as of 2:09 p.m. in Toronto.

[bigbigdave] 16/11/2018 07:09

Congo Lifts Export Ban on Glencore's Copper and Cobalt Unit

[leoneobull] 15/11/2018 20:09

We are a representative democracy. You don't need a referendum every time there is an EU Treaty. I'm not a fan of referenda at all. Period. But since we have been subject to the tyranny of the under-educated narrow majority....The fight goes on, as is our democratic right.Indeed Farage said in a 52-48 referendum the fight would go on. Which is why the nonsense about #you lost# is facetious nonsense. Another referendum would deliver a different result since after 2 years of understanding the implications...and seeing the deal, sufficient numbers would change their minds.

[fangorn2] 15/11/2018 20:02

Leoneobull15 Nov '18 - 19:57 - 15290 of 15292
0 0 0
Now now Fangorn, we don't want to over-excite your pace maker with all this talk of civil war and battlefields now do we.,.,!?!?!

Tad presumptuous on the aged front mate.

Suspect I have a lower big figure than you do.

[fangorn2] 15/11/2018 20:01

Leoneobull15 Nov '18 - 19:49 - 15289 of 15289
0 0 0
Fangourn. A self claimed democrat who won't give people a say on the final deal. Public opinion says we need another referendum me old son

And if you lose 3rd Reffy, will there need to be a fourth?? And a fifth?

It was clear it was for a generation, ans the one in 1975 was.

I dont recall you playing the democracy card at 1992 Maastricht or 2006/7 Lisbon!!

What happened to democracy then me old china?

Democracy is only a card you play when you've lost isn't it.

Public opinion says we need another referendum me old son

No it doesn't

[fangorn2] 15/11/2018 19:58

Leoneobull15 Nov '18 - 19:47 - 15288 of 15289
0 0 0
Fangorn. Sky news poll 54% remain. Public opinion has turned. And it will continue to do so.

Which poll???? Got a link

I'm well aware of the deception that CH4 used to derive their 54% Remain vote.

No wonder you are chicken for round 2

Not at all.

I happy to have another reffy, in 41 years, when it is due.

Remember this was for a generation - just as the 1975 one was.


.a referendum bases on actually knowing what Brexit means rather than the lies peddled first time and the naivety of the cde social strata

Oh you mean all the Remain lies

and the Remain disaster w e have now been served by a Remain PM, a Remain cabinet and a Remain dominated Govt.

[leoneobull] 15/11/2018 19:57

Now now Fangorn, we don't want to over-excite your pace maker with all this talk of civil war and battlefields now do we.,.,!?!?!

[leoneobull] 15/11/2018 19:49

Fangourn. A self claimed democrat who won't give people a say on the final deal. Public opinion says we need another referendum me old son

[leoneobull] 15/11/2018 19:47

Fangorn. Sky news poll 54% remain. Public opinion has turned. And it will continue to do so. No wonder you are chicken for round 2 ...a referendum bases on actually knowing what Brexit means rather than the lies peddled first time and the naivety of the cde social strata

[fangorn2] 15/11/2018 19:04

Leoneobull15 Nov '18 - 17:16 - 15285 of 15286
0 0 0
hxxp://blogs.lse.ac.uk/brexit/2018/11/14/the-extent-of-russian-backed-fraud-means-the-referendum-is-invalid/

Bring on the legal cases

A personal blog, laughable.

Latest shambolic deceitful lies peddled by Remain

I've been waiting, like most Leave voters(Look at the vote Demographic!!)for last 30-41 years to vote NO - Russians couldve given me $100,000 to vote REMAIN I'd still have voted LEAVE.

"Four separate reports have fatally undermined the Brexit vote, argues Ewan McGaughey (King’s College London). They show how Russia used the Leave campaigns, official and unofficial, to sway the referendum"

So what of the Explicit American President's intervention, "Back of the Queue" Obama, or the IMF, or OECD - all foreign intervention.

Why are you remainers ignoring that?Why is all the Remain cheating ignored???

What happened to consistency??

Frankly you're bloody bad losers.

You lost.

We voted LEAVE

Implement it, or reap the whirlwind I suspect.

Overturn democracy, prepare to fight on the battlefield you anti democratic fascist Leoneobull.

[fangorn2] 15/11/2018 19:00

“Given that the copper cathode production at issue did not exist and that the copper lots were not exported, Kamoto strongly asserts that no export duties are owing on the overstated (not produced and not sold) copper cathode. As indicated above, Kamoto is engaged in discussions with the DGDA with a view to resolving the dispute,” Katanga said in a statement.

So why are dues arising or is it merely the usual question of proffering a brown envelope when African govts are concerned?

[leoneobull] 15/11/2018 17:16

Bring on the legal cases

[leoneobull] 15/11/2018 17:15

Bring on the legal cases

[waldron] 15/11/2018 16:54

Rio Tinto
3,800.5 +2.44%


BHP Billiton
1,589 +2.85%


Anglo American
1,683.6 +2.60%


Glencore
297.85 +2.14%

Gold COMEX 1,214.50 +0.36%
Silver COMEX 14.23 +1.07%
Copper COMEX 2.75 +1.37%
Brent Crude Oil NYMEX 67.29 +1.77%


Still in the 280 to 310p BOX
Gasoline NYMEX 1.58 +1.18%
Natural Gas NYMEX 4.12 -14.82%

[losses] 15/11/2018 14:45

Glencore's Katanga warns of earnings hit if Congo row not resolvedHttps://uk.finance.yahoo.com/news/glencores-katanga-warns-earnings-hit-121203169.html

[creditcrunchies] 15/11/2018 11:52

Yeah it's probably Glen buying their own ztock