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Dubai’s DSA Investments is considering forming a venture with labour union Nehawu to bid for coal assets that Glencore was pressured into selling to a company controlled by the politically-connected Gupta family in 2015.
Glencore plans to reduce the number of subsidiaries based in so-called tax havens as the commodities giant seeks to improve transparency.
Glencore said it’s under investigation by the US Commodity Futures Trading Commission for possible corrupt practices, the latest legal headache for the world’s biggest commodity trader.
Former director general in the department of Mineral Resources Thibedi Ramontja on Thursday detailed the secrecy that surrounded the acquisition of Optimum coal mine from Glencore.
Former Glencore CEO Clinton Ephron has told the Zondo commission that he was devastated when former Eskom CEO Brian Molefe told him Eskom would not be updating the company’s contract with the power supplier.
Former Glencore CEO Clinton Ephron is giving testimony at the Zondo commission of inquiry into state capture. Watch.
Don’t listen to what miners say. Look at what they do, say David Fickling & Elaine He.
Glencore’s Katanga Mining division has agreed to pay more than $22m to Canada’s biggest stock market regulator amid allegations it hid risks of doing business in the DRC, according to the Wall Street Journal.
Higher US bond yields have made the payouts offered by most stocks look pretty underwhelming lately. Not so Glencore, whose implied yield is startlingly high even though it’s throwing off cash like it’s going out of fashion, says Chris Bryant.
Glencore is updating investors as the world’s biggest commodities trader nears the end of a tough year.
Coal mines operated by companies such as Glencore and Anglo American are polluting parts of Mpumalangaas they fail to comply with their water licenses, says an environmental group.
Glencore cut its full-year copper-output goal by about 3% and lowered production targets for other commodities from nickel to oil, as the world’s biggest metal trader deals with multiple problems across its operations.
The Competition Tribunal has approved the merger between Glencore South Africa Oil Investment and the local division of Chevron.
It was quite something to see Glencore as the victims before the inquiry into state capture rather than the captors, says Ferial Haffajee.
The judicial commission of inquiry into state capture has adjourned after hearing the testimony of former CEO of Glencore, Clinton Ephron.
Labour unions met on Friday to discuss the job cuts, which will affect contractors and expatriate employees, the people said, asking not to be identified as the matter is private.
Glencore’s billionaire head of copper trading, Aristotelis Mistakidis, was among executives fined and banned from being a director by Canada after admitting that its Congolese copper and cobalt unit misstated how much metal it mined.
Chinese battery maker GEM Co. has halted buying cobalt from Glencore after prices fell below the agreed level under a three-year contract signed earlier this year, according to a person familiar with the matter.
Glencore has announced the retirement of billionaire Aristotelis Mistakidis, its embattled head of copper trading and one of the company’s biggest shareholders.
Glencore’s sudden discovery that some of its cobalt is radioactive couldn’t come at a better time.
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