All articles tagged with #glencore
Originally Published 3 days ago — by Financial Times
Rio Tinto is rekindling talks with Glencore for a potential $260 billion megamerger aimed at creating the world's largest mining group, focusing on copper assets amid sector consolidation and strategic growth in critical metals for the energy transition.
Originally Published 4 days ago — by Financial Times
Glencore and Rio Tinto have resumed discussions on a potential $260 billion mining megadeal, signaling ongoing negotiations in the mining industry.
Originally Published 4 days ago — by Rio Tinto
Rio Tinto and Glencore are in preliminary discussions about a potential merger, possibly involving an all-share deal, but no firm offer has been made yet, and the outcome remains uncertain.
Originally Published 5 months ago — by The Guardian
Glencore has decided to keep its stock listing in London after a review, citing insufficient value in moving to the US despite potential benefits, amid its recent financial losses and strategic considerations. The company remains committed to the London market, with future review possibilities, and highlights the complexities of cross-border listings and their implications.
Originally Published 1 year ago — by CNBC
European markets were mixed with the Stoxx 600 index down 0.1%, while HSBC shares sank 6.7% after reporting an 80% drop in pre-tax profits, and Glencore fell over 6% due to a steep drop in annual profits. Hong Kong stocks gained over 3% as wider Asia-Pacific markets traded mixed, U.S. stock futures ticked down, and CNBC Pro highlighted opportunities in real estate and dividend stocks.
Originally Published 1 year ago — by Financial Times
Glencore, a major mining company, has announced plans to sell its stake in the lossmaking nickel operations in New Caledonia, as part of its strategy to focus on core commodities. The company has been facing challenges in the nickel market, and the decision to divest from the New Caledonia operations reflects its efforts to streamline its portfolio and improve financial performance.
Originally Published 2 years ago — by Yahoo Finance
Glencore has reached an agreement to acquire a majority stake in Teck Resources' coal business, ending a contentious battle between the two companies. The deal will allow Glencore to exit the coal business and focus on metals needed for the energy transition. Glencore plans to create a new company listed on the New York Stock Exchange for its combined coal operations within two years. The acquisition, valued at $6.93 billion, is subject to Canadian government approval. Teck will use the proceeds to pay off debts, build new metal mines, and return some to shareholders.
Originally Published 2 years ago — by Star Tribune
Mining company Glencore has made a bid of $73 million to acquire the remaining shares of PolyMet, a Minnesota-based mining company, in order to take full ownership. The move would give Glencore complete control over PolyMet's operations and assets.
Originally Published 2 years ago — by The Wall Street Journal
Glencore has approached Teck Resources about a potential acquisition of its coal business, according to sources. The move comes as Glencore looks to expand its coal operations amid rising demand for the commodity. Teck has not yet made a decision on whether to sell its coal business.
Originally Published 2 years ago — by The Wall Street Journal
Copper, traditionally seen as a cyclical economic indicator, is also set to play a key role in the world's green transition, with green technologies such as electric vehicles and solar panels using more copper than equivalent fossil-fuel-based technologies. Glencore's pursuit of Teck Resources highlights the race to secure access to copper, as supply growth looks likely to fall far short of demand over the coming decade.
Originally Published 2 years ago — by OilPrice.com
Despite OPEC+ production cuts, oil is set for its sixth straight monthly loss due to declining US capital goods spending and refinery margins. OPEC Secretary General warns the International Energy Agency to be careful about discouraging investment into oil and gas. Suncor Energy acquires TotalEnergies' Canadian oil sands assets for $4.1 billion. Pioneer CEO's retirement fuels speculation of ExxonMobil's reported $52 billion takeover. Iran detains a Turkish-owned tanker carrying Kuwaiti crude for Chevron in the Gulf of Oman. BASF seeks to exit oil producer Wintershall Dea. Glencore buys a 30% stake in Brazil's alumina refinery Alunorte and a 5% stake in bauxite producer MRNS for $700 million. Russia considers breaking Gazprom's monopoly on pipeline exports to China. Australia proposes to extend a price cap on natural gas until at least mid-2025. US oil producer Hess Corp announces another offshore discovery in Guyana's Stabroek block. Booming Indonesian nickel production continues to outpace demand growth. Canada's Quebec province faces a 100 TWh shortfall towards local consumers. The world's largest graphite miner Syrah Resources lowers production from its main producing assets in Mozambique until demand improves. China's Sinopec lands a $4.4 billion coal mining deal in the Inner Mongolia region of the country.
Originally Published 2 years ago — by Financial Times
Canadian mining company Teck Resources has rejected a hostile approach by Swiss commodities trader Glencore. Glencore had proposed a merger with Teck Resources, but the Canadian company said the proposal was not in the best interests of its shareholders.
Originally Published 2 years ago — by Reuters
Teck Resources has rejected a $22.5bn takeover bid from Glencore, which proposed a simultaneous spin-off of their thermal and steelmaking coal businesses. Teck said a potential split would expose its shareholders to a large thermal coal business, an unwanted oil trading business and significant jurisdictional risk, all of which would negatively impact its value. Teck said more value can be created with the proposed restructuring announced earlier this year than the sale of the company.