Glencore Share Discussion Threads

[foxy22] 27/11/2018 13:18

Well Waldron miracles aside I think outlook for mining is somewhat bearish at the moment if we can bounce back to 3.00 im out...dont see china story too rosy at the momentWhat do others think

[waldron] 27/11/2018 13:15

DIVI COULD AND SHOULD BE MUCH BETTER

[the deacon] 27/11/2018 12:55

What is the divi here? Thanks

[montyhedge] 27/11/2018 12:38

DRC and US worry me, I wish there was more certainty. Investors hate uncertainty including me.

[waldron] 27/11/2018 12:23

FOXY

ALAS, MY VIEWS ARE MORE WISHFUL THINKING SO MUST EXTEND TOWARDS THE LONGER TERM

I HOPE ITS DOES NOT GO BELOW THE 280 to 310p BOX

AND WISH FOR A GRADUAL MOVE UP THRU THE FOLLOWING BOXES

310 to 340p

340 to 370p

370 to 400p

ALL THIS WILL DEPEND ON POSITIVE NEWS WHICH AT PRESENT IS A RARE COMMODITY

IN THE MEANTIME I SIT TIGHT AND AWAIT A MIRACLE AND DIVI PAY DAY

[foxy22] 27/11/2018 12:03

WaldronYou indicated the forecasts on the share price website for glencore.I was quite shocked at the lower prices forecast.Although nothing as u said is etched in stone the prices forecast are all under 3.00 pounds for glen So this is relatively bearish for the next few months...what do u think re outlook for glen short medium term...

[grupo] 27/11/2018 10:39

Glencore accused of environmental pollution in DRC
By Simon Bradley

Business
Politics

This content was published on November 27, 2018 11:20 AMNov 27, 2018 - 11:20
A hairdresser's salon in front of Glencore's KCC copper mine at Kolwezi in southern DRC

A hairdresser's salon in front of Glencore's KCC copper mine at Kolwezi in southern DRC
(© Meinrad Schade)

Two Swiss non-governmental groups have accused Swiss-based commodity trader and miner Glencore of continuing to pollute the air and soil around mines near the town of Kolwezi in the south of the Democratic Republic of the Congo (DRC).

According to a report external linkby the Swiss NGOs Bread for All and Catholic Lenten Fund, despite improvements to the water supply and water pollution around Kolwezi, the multinational’s due diligence for human rights and the environment remains incomplete.

The two NGOs studied environmental and human rights issues linked to copper and cobalt mines exploited by the Glencore-owned firms Kamoto Copper Company (KCC) and Mutanda Mining (MUMI).

The campaign groups said progress had been made since the last report in 2014external link. Glencore has now stopped the discharge of waste water from the KCC mine into the Luilu River. And for some of the inhabitants of the Luilu neighbourhood, a project to improve the water supply is underway. Glencore has also improved communication with the population.

+ Read more about the situation in DRC in the NGOs' 2014 report

Nevertheless, the report found that the scale and number of air and soil pollution incidents remain high. The authors said that at the end of May 2018, dust levels in Kolwezi and in nearby Luilu were between 150 and 300 micrograms per cubic metre, and as high as 500 micrograms on the access roads to the mine. The daily average limit set by the World Health Organization (WHO) is 50 micrograms.

The report said farmers' fields near the mines had been repeatedly contaminated by various pollutants. Many victims had been compensated for crop failures but were still waiting for compensation for the lasting damage to their soil. Glencore had failed to disclose the exact composition of the leaked substances in two cases, the NGOs stated.
‘Voluntary measures are not enough’

The NGOs accused Glencore of not acknowledging its responsibility for environmental and human rights problems immediately, and of only making improvements after pressure from local partners.

“This shows that voluntary measures by corporations are not enough. Little happens without pressure from non-governmental organisations and civil society. Problems are often tackled only reluctantly and prevention measures are insufficient,” the NGOs wrote in a statementexternal link.

In reply, Glencore said the NGOs’ report did not fully match the situation on the ground. Using examples of reported pollution in the localities of Moloka, Kaindu and Tshamundenda, it argued that its Congo subsidiaries had responded proactively to farmers’ concerns, had acted rapidly when there were leaks or spills, and had agreed to appropriate compensation.

“Both KCC and MUMI adhere to the requirements of their operating permits. In line with their approach of continuous improvement for their assets, KCC and MUMI work closely with local and national regulators as well as upgrade operational infrastructure to improve their mitigation of environmental impacts,” Glencore wrote in a letter to the NGOs.

The Zug-based firm said it was committed to high standards of corporate governance and transparency. Since 2007, it claims to have invested over $6.5 billion (CHF6.5 billion) in DRC on its operations, local infrastructure and social investment projects.

[grupo] 27/11/2018 10:34

fireplace22
27 Nov '18 - 10:03 - 161 of 163
0 0 0
Thanks for the link - dont understand this though;

'Also, the outcome of a meeting of the Organization of the Petroleum Exporting Countries (OPEC) likely to be held later today will have a major bearing on the oil markets.'

Thought OPEC were meeting early Dec.?


TRUE FP22, BUT SOME DECISIONS MIGHT WELL BE MADE IN AND AROUND THE G20 MEETING APPARENTLY

UNOFFICIALLY I SUPPOSE

[montyhedge] 27/11/2018 10:21

Buybacks are good, without it, I'm convinced these would be 255p in the current climate.

[montyhedge] 27/11/2018 10:15

It's not just oil it all commodities are out of favour.

[fireplace22] 27/11/2018 10:03

Thanks for the link - dont understand this though;

'Also, the outcome of a meeting of the Organization of the Petroleum Exporting Countries (OPEC) likely to be held later today will have a major bearing on the oil markets.'

Thought OPEC were meeting early Dec.?

[leoneobull] 27/11/2018 09:46

Take us private Ivan. 5 £ would be fine

[montyhedge] 27/11/2018 09:28

In other words lower share price. Lol

[twixy] 27/11/2018 09:12

Must be strong coffee Monty; just the three sentences and you manage to contradict yourself with each.

[montyhedge] 27/11/2018 08:53

Commodities so much out of favour, can't see any change soon.Buybacks helping to hold share price in a low volume market.Shareprice drifting and shares don't normally don't drift up.

[twixy] 26/11/2018 17:33

Don't jinx it ;-)Low volume today 34MM v 60MM normally

[adrian j boris] 26/11/2018 09:27

Glencore Intl to supply 150 tonnes of nickel to South Korea’s PPS

Glencore International has won two public tenders to supply South Korea’s Public Procurement Service (PPS) with 150 tonnes of London Metal Exchange-registered brands of nickel cathode for shipment to Incheon port by February 22, 2019.

[redtom1] 25/11/2018 19:42

Monty, no. The share back is a way of returning value to shareholders. And the company would want to buy them as cheaply as possible. It will enhance eps going forward. It has absolutely nothing to do with supporting the share price

[montyhedge] 25/11/2018 16:35

Looks like they are trying to support the shareprice.