Overview
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Fundamentals
Price
News
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24 Aug 2016 2 min read
Glencore’s bottom line hit by lower commodity prices but net debt down
Glencore has posted its results for the six months ended 30 June 2016 with adjusted EBITDA of US$4.0b, 13% lower than H1 2015, and adjusted EBIT down 38% to US$875b as the group’s commodity production was impacted by lower prices. The company delivered on lowering its costs and reports that 66% of the negative price […]
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11 Dec 2015 1 min read
Glencore outlines plans for dealing with lower price environment
Multi-commodity mining giant, Glencore, yesterday briefed investors on its preparedness for a lower price environment. The company has reduced 2015 capex from US$6 billion to US$5.7 billion, and expects to reduce 2016 capex to US$3.8 billion. For its main mineral products it expects low cost profiles of US$1.10/lb copper, US$0.33/lb zinc, US$2.95/lb nickel and US$39/t […]
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08 Sep 2015 1 min read
Glencore suspends copper production at two mines; plans US$2.5 billion equity raise
Glencore has suspended mining at two of its higher cost copper mines – Katanga, in the Democratic Republic of Congo, and Mopani, in Zambia. The operations are expected to remain closed for 18 months until the completion of the expansionary and upgrade projects, which are planned to reduce operational costs. The suspension of these operations […]
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10 Aug 2015 1 min read
Glencore closes South African coal mine
Glencore has put a number of its opencast operations, and large portions of the coal processing plants, at its Optimum colliery, in South Africa, on care and maintenance and is retrenching 600-700 workers. This comes as the company commences “business rescue” proceedings for Optimum. Optimum supplies coal to the Hendrina power station owned by State […]
