Glencore Plc |

Glencore Will Double Dividend, Restart Zinc as Metals Rally

LONDON (Capital Markets in Africa) – Glencore Plc promised to double its dividend, restart some zinc production and boost spending as the world’s largest commodity trader reaps rewards from soaring metals prices. The slate of news from Glencore’s investor presentation on Tuesday shows the mining company is firing on all cylinders, with profitable zinc, cobalt and copper mines around the world. The growth has been aided by a powerful trading business that’s on track for its second-best…

Zinc, Copper Outlook Key When Glencore Speaks to Investors

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) The commodities world will be scrutinizing Glencore Plc’s annual investor day on Tuesday for clues on when the top metals trader will restart shuttered zinc and copper production, as well as its plans to expand in agriculture. Here’s a few things to look out for: Zinc Zinc has rallied 86 percent since Glencore curtailed output at some mines two years ago to revive languishing prices. With the metal now near the highest…

Glencore’s Trouble in Congo Claim Its Highest Profile Victim

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JOHANNESBURG (Capital Markets in Africa) – Two weeks after the Paradise Papers leak brought a wave of scrutiny over Glencore’s dealings in the Democratic Republic of Congo, the company is facing another scandal. The issues stem from Katanga Mining Ltd., a Congolese copper producer owned by Glencore. The African company restated financial statements and is under investigation by Canadian regulators for its corporate governance and accounting practices. In a major sign of how toxic the problem…

Glencore’s Role in Paradise Papers: What You Need to Know

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JOHANNESBURG (Capital Markets in Africa) – The activities of Glencore Plc, the world’s biggest commodity trader, are under scrutiny after a massive leak of confidential information from offshore law firm Appleby Global Group Services Limited. Glencore was one of the top clients of Appleby, which even had a “Glencore Room” at its Bermuda office that kept information on the trader’s 107 offshore companies, according to an investigation led by the International Consortium of Investigative Journalists. Appleby suffered…

Glencore’s Big Electric Car Bet Carries Plenty of Risk

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KINSHASA (Capital Markets in Africa) – The Democratic Republic of Congo has been presented as a Glencore Plc trump card, but that’s not to say this particular mining play is without risk. On Monday, journalists delving into the so-called Paradise Papers shed more light on Glencore’s activities in the mineral-rich African country, including a loan it made in 2009 to an entity affiliated with controversial Israeli billionaire Dan Gertler. For reasons of brevity, I won’t…

Glencore Abandons Hong Kong Listing as It Sticks With Africa

Posted on by The Editorial Team

JOHANNESBURG (Capital Markets in Africa) – Glencore Plc is planning to withdraw its listing from the Hong Kong Stock Exchange early next year, with the world’s biggest commodities trader saying that only a small number of investors had chosen to hold their shares on the local register. Dealings in Hong Kong-listed shares are expected to cease on Jan. 10, the Baar, Switzerland-based company said in a statement on Tuesday. Glencore, which trades raw materials including copper and zinc, and…