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Glencore offered 2.8 new shares for each Xstrata share in agreed all-share "merger of equal". It is the biggest mining takeover ever, and after approval would create an entity with 2012 sales of US$209 billion. [ 48 ]
Glencore is well placed to supply copper and cobalt needed for a shift to a more electrified economy and the buyback should bolster a share price that has come under pressure because of its ...
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Glencore's initial plan to divest its coal business stemmed from environmental considerations. However, 95% of shareholders participating in the consultation advocated for retaining the coal and ...
On 2 May 2013, Xstrata merged with Glencore to form Glencore Xstrata plc; [56] and on 20 May 2014, Glencore Xstrata changed its name to Glencore plc. [57] In October 2023, it was announced that all copper mining operations would cease by 2025. [58] The closure was attributed to low-quality ore and was expected to affect 1,200 employees. [58]
Glencore's shutdown of its Mutanda mine has jeopardized global supplies and could significantly hurt electric vehicle makers. Cobalt Prices Soar After Glencore Announces Shutdown of Key Mine Skip ...
Reasons including underestimating the impact of Brexit and a $326 million loss after it bet against Glencore when its share price rebounded. In the first 6 months of 2020, the fund lost 23% due to its long positions on Airline stocks which were affected by the COVID-19 pandemic. Around half of the fund's investors converted to the Lansdowne ...