Glencore Share Discussion Threads

[waldron] 17/4/2020 17:18

Iron Ore 84.17 +0.13(0.15%)
Gold COMEX 1,705.50 -1.51%
Silver COMEX 15.33 -1.87%
Platinum NYMEX 788.60 -0.59%
Copper COMEX 2.34 +2.25%
Brent Crude Oil NYMEX 28.46 +2.30%
Gasoline NYMEX 0.76 +0.91%
Natural Gas NYMEX 1.91 +3.52%
WTI 18.351 USD -8.41%

FTSE 100
5,786.96 +2.82%
Dow Jones
23,944.65 +1.73%
CAC 40
4,499.01 +3.42%
SBF 120
3,538.15 +3.53%
Euro STOXX 50
2,888.3 +2.37%
DAX
10,625.78 +3.15%
Ftse Mib
16,992.27 +1.34%


Rio Tinto
3,816.5 +3.32%



Bhp
1,315.8 +4.02%



Anglo American
1,422.4 +5.86%



Glencore
141.28 +7.32%

[twixy] 17/4/2020 12:12

Yes, that good worth saying it twice ;-)

[book5] 17/4/2020 11:59

good rise today, may it continue

[book5] 17/4/2020 11:59

good rise today, may it continue

[waldron] 16/4/2020 17:01

Iron Ore 84.04-0.18(-0.21%)
Gold COMEX 1,744.90 +0.27%
Silver COMEX 15.67 +1.03%
Platinum NYMEX 805.10 +0.06%
Copper COMEX 2.31 +0.65%
Brent Crude Oil NYMEX 27.54 -0.54%
Gasoline NYMEX 0.79 +2.72%
Natural Gas NYMEX 1.74 -0.57%
WTI 20.127 USD -1.36%


FTSE 100
5,628.43 +0.55%
Dow Jones
23,423.01 -0.35%
CAC 40
4,350.16 -0.08%
SBF 120
3,417.56 -0.21%
Euro STOXX 50
2,821.46 +0.56%
DAX
10,301.54 +0.21%
Ftse Mib
16,843.94 +0.75%



Rio Tinto
3,694 +0.70%



Bhp
1,265 +1.35%



Anglo American
1,343.6 -0.81%


Glencore
131.64 -2.08%

[florenceorbis] 16/4/2020 07:37

Barclays Capital Overweight but down from 285.00 to 220.00 Reiterates

[waldron] 15/4/2020 19:23

Iron Ore 84.22 -0.03(-0.04%)
Gold COMEX 1,743.80 -1.42%
Silver COMEX 15.54 -3.69%
Platinum NYMEX 804.50 -1.85%
Copper COMEX 2.30 -1.35%
Brent Crude Oil NYMEX 28.06 -5.20%
Gasoline NYMEX 0.78 -0.31%
Natural Gas NYMEX 1.75 -3.94%
WTI 20.227 USD -2.89%


FTSE 100
5,597.65 -3.34%
Dow Jones
23,447.07 -2.10%
CAC 40
4,353.72 -3.76%
SBF 120
3,424.67 -3.87%
Euro STOXX 50
2,808.2 -3.84%
DAX
10,279.76 -3.90%
Ftse Mib
16,766.84 -4.51%



Rio Tinto
3,668.5 -4.04%



Bhp
1,248.2 -4.91%



Anglo American
1,354.6 -5.85%


Glencore
134.44 -6.08%

[florenceorbis] 15/4/2020 08:34

GLEN Deutsche Bank Buy 220.00 - Reiterates

AAL Deutsche Bank Buy 2,150.00 - Reiterates

[florenceorbis] 15/4/2020 08:03

Glencore Feud Deepens as Zambia Moves to Revoke Copper Mines

Taonga Clifford Mitimingi and Thomas Biesheuvel, Bloomberg News








BC-Glencore-Feud-Deepens-as-Zambia-Moves-to-Revoke-Copper-Mines

BC-Glencore-Feud-Deepens-as-Zambia-Moves-to-Revoke-Copper-Mines , Taonga Clifford Mitimingi and Thomas Biesheuvel

(Bloomberg) --

Zambia raised the stakes in its fight with Glencore Plc, threatening to strip the company of its copper mines in the southern African country.

Glencore said last week it needs to close shafts at Mopani Copper Mines Plc due to falling metal prices, disrupted logistics and travel restrictions related to the coronavirus pandemic. It pressed ahead with the move in defiance of the government, which described the closure as illegal.

“They’ve been given seven days to show why their license should not be canceled or revoked,” Mines Ministry Permanent Secretary Barnaby Mulenga said by phone. A Glencore spokesman declined to comment, though the company said earlier Tuesday it was in talks with the government about a way forward.

The threat from Zambia to cancel the mining license of Glencore’s local unit significantly escalates the conflict at a time when both the commodity trader and country are battling slumping copper prices as the coronavirus pandemic hits demand.

Zambia has a track record for carrying through on its threats. A year ago, the country placed the local unit of Vedanta Resources Plc in provisional liquidation, accusing the company of skipping taxes and lying about expansion plans. Zambia is the continent’s second-biggest copper producer.

Mopani didn’t give required notice to place operations under care and maintenance, state-owned ZNBC TV reported Tuesday, citing a government letter to Mopani Chief Executive Officer Nathan Bullock. The government intends to revoke the licenses for both Mopani’s Nkana and Mufulira mines, ZNBC said.

Glencore has struggled to make its Zambian business profitable, but the mines have been central to its plans to turn around the fortunes of the giant African copper and cobalt business that also includes mines across the border, in the Democratic Republic of Congo.

The company is in the process of spending billions of dollars at Mopani to sink new shafts. Once fully up and running, the mines should produce about 140,000 tons of copper a year, compared with just 51,000 tons last year. The mine had been expected to produce between 50,000 tons and 70,000 tons this year.

Glencore said last week that it will continue paying its permanent employees, excluding management, and they will have continued access to health care and other services. The company’s contractors will receive payments exceeding those it’s legally obliged to make, it said.

(Updates to add background.)

[waldron] 14/4/2020 17:13

Iron Ore 84.25+ 0.41(0.49%)
Gold COMEX 1,767.60 +0.35%
Silver COMEX 16.06 +3.33%
Platinum NYMEX 815.00 +8.70%
Copper COMEX 2.32 +0.69%
Brent Crude Oil NYMEX 29.96 -5.61%
Gasoline NYMEX 0.78 +2.19%
Natural Gas NYMEX 1.86 -1.01%
WTI 21.34 USD -6.42%


FTSE 100
5,791.31 -0.88%
Dow Jones
23,804.24 +1.77%
CAC 40
4,523.91 +0.38%
SBF 120
3,562.63 +0.14%
Euro STOXX 50
2,920.49 +1.01%
DAX
10,696.56 +1.25%
Ftse Mib
17,535.2 -0.49%


Rio Tinto
3,823 -0.78%


Bhp
1,312.6 -0.11%



Anglo American
1,438.8 -1.63%



Glencore
143.14 -1.12%

[grupo guitarlumber] 14/4/2020 08:43

Sean Farrell
Sharecast News
14 Apr, 2020 08:34
Glencore's Peru JV closes but Quebec could reopen
glencore, mining, commodities, metals, mine, smelter
Glencore
145.63
08:27:54 14/04/20
0.60%
0.87

Glencore said its joint venture in Peru had halted activity in line with Covid-19 guidelines but that it was looking at options to reopen mines in Quebec.
FTSE 100
5,824.97
08:27:57 14/04/20
-0.30%
-17.69
FTSE 350
3,260.09
08:27:57 14/04/20
-0.41%
-13.31
FTSE All-Share
3,220.52
08:27:57 14/04/20
-0.39%
-12.72

In an update on the effect of the coronavirus crisis the commodities trader and miner said its Antamina joint operation in Peru had suspended operations for a likely two weeks. During that time the site will be disinfected and measures such as medical screening and social distancing will be put in place to protect the health of workers and communities, Glencore said.

In Canada the Quebec government has extended the closure of non-essential businesses until 4 May. From 15 April, mining will be classed as essential and Glencore said its nickel and zinc operations were reviewing options to reopen before 4 May.

In Colombia the president has extended a quarantine period until 27 April. Glencore's Prodeco mines will remain on care and maintenance while its port continues to operate, the FTSE 100 company said.

Glencore's ferroalloys operation and two of its coal mines in South Africa are closed after the government extended its lockdown to 30 April. The company is in talks with the Zambian government about the way forward for its closed mines in that country.

"For all our offices and industrial assets that are continuing to operate, we continue to implement various additional precautionary measures to protect our employees," Glencore said, addding that most of its operations had not been significantly affected by the Covid-19 crisis.

"We recognise the uncertainty caused by the current environment and endeavour to support our workforce and local communities, as appropriate. Our local teams are working closely with governments, health agencies and other key responders to identify their needs to provide the most effective response possible."

[milliethedog] 14/4/2020 08:00

Glencore plc

Baar, Switzerland

14 April 2020



Update on COVID-19



Glencore continues to engage with the relevant authorities, unions and other stakeholders regarding the steps we are taking to minimise the impact of COVID-19 on our operations. Our goal is to operate only when we can keep our people safe and healthy, while safeguarding jobs and providing support to our local communities and other key stakeholders especially during this critical time. While the majority of our operations have not been materially impacted, the following provides an update on the impacts that have occurred at certain of our assets since our previous update on 26 March. As previously reported, we intend to provide updated guidance in respect of 2020 production, key industrial division unit costs and capital expenditure, alongside our Q1 production report, scheduled for release on 30 April.



Canada

The government of Quebec has extended the order for all non-essential businesses to remain closed until 4 May. Mining has been classed an essential activity with effect from 15 April. Accordingly, our Raglan (nickel) and Matagami (zinc) operations in Quebec are analysing options to restart operations before 4 May.



Colombia

In Colombia, the President imposed a 19-day quarantine for the country from 25 March. This has now been extended to 27 April. Prodeco's mining operations remain on care and maintenance, while the port continues to operate.



Peru

At our independently managed, JV operation, Antamina (Glencore share 33.75%), a decision has been taken to de-mobilise the workforce and halt operations for a likely period of approximately 2 weeks. The primary focus of the operation is to ensure the health and safety of its workforce and surrounding communities. During suspension of operations, the camp will be thoroughly disinfected and increased protocols put in place for those arriving at / departing from site. These protocols include enhanced medical screening, transportation and social distancing measures, in accordance with Peruvian guidelines.



South Africa

The South African government has extended its nationwide lockdown to 30 April. Our ferroalloys and two of our coal (Middleburg and Graspan) operations currently remain on care and maintenance.









Zambia

Following Mopani's recent announcement regarding the transition of its mining operations to care and maintenance, Glencore is currently in discussions on the way forward with the Government of Zambia.



Supporting our workforce and local communities

For all our offices and industrial assets that are continuing to operate, we continue to implement various additional precautionary measures to protect our employees. We recognise the uncertainty caused by the current environment and endeavour to support our workforce and local communities, as appropriate.



Our local teams are working closely with governments, health agencies and other key responders to identify their needs to provide the most effective response possible. In order to support these efforts, we recently launched the $25m Glencore Community Support Fund. This fund will complement existing efforts by our local teams to provide the support their communities need most at this time.

[uncertain times] 12/4/2020 22:01

Opec producers and allies have agreed a record oil deal that will slash global output by about 10% after a slump in demand caused by coronavirus lockdowns.

[waldron] 09/4/2020 17:20

Iron Ore 83.35 +0.48(0.58%)
Gold COMEX 1,739.80 +3.30%
Silver COMEX 15.79 +3.81%
Platinum NYMEX 743.70 +1.38%
Copper COMEX 2.26 -0.15%
Brent Crude Oil NYMEX 33.48 +1.95%
Gasoline NYMEX 0.71 +4.87%
Natural Gas NYMEX 1.85 -2.43%
WTI 25.665 USD -2.60%


FTSE 100
5,842.66 +2.90%
Dow Jones
23,850.2 +1.78%
CAC 40
4,506.85 +1.44%
SBF 120
3,557.79 +1.67%
Euro STOXX 50
2,892.79 +1.72%
DAX
10,564.74 +2.24%
Ftse Mib
17,586.64 +1.18



Rio Tinto
3,853 +4.22%



Bhp
1,314 +2.91%



Anglo American
1,462.6 +2.44%



Glencore
144.76 +5.43%

[cumnor] 09/4/2020 12:08

When Trump, China (and the EU) start pumping cheap money into infrastructure as the only means to get employment up again watch the demand for commodities soar and Glen will be in a very sweet spot then. There is no other way out of this this-spend, spend spend.

[heliweli] 08/4/2020 16:23

Sold out. More profit to be made elsewhere.