Anglo writes off De Beers and continues with business overhaul
Anglo American reported a $3.1billion loss on Thursday, after writing down its De Beers business. The company is continuing to shed unwanted assets. Anglo wants to concentrate on iron…
S. Africa's Sibanye signs a chrome pact to Glencore amid a slump in platinum prices
Sibanye Stillwater, a miner with a diverse portfolio of operations, announced on Wednesday that it had signed a deal to manage chrome for Glencore's Merafe Venture South Africa in order…
Peru Copper Production to Decline in 2024 from 2.74 Million Tons
The Peruvian mining ministry announced on Friday that copper production in 2024 will be 2,736,150 tons, a 0.7% decrease from 2023. This was the first time the copper giant had declined…
Glencore rejects an approach to its DRC operations in the last year
Glencore, a commodity and mining trader, said that it rejected a non-invited approach by an unknown buyer at the end of the last year for its operations in Democratic Republic of Congo.
Trump relaxes the enforcement of US laws that prohibit bribery by foreign officials
Donald Trump, the U.S. president, signed an executive order on Monday directing that the Justice Department halt prosecutions against Americans accused of bribing officials of foreign…
Africa's biggest copper countries are focusing on trade profits
Africa's largest copper producers, Democratic Republic of Congo (DRC) and Zambia (Zambia), are working to get exposure to metal trading, as the surge in demand linked to artificial…
Glencore announces lower metals production by 2024
Glencore reported Thursday that it would lower its copper, cobalt and zinc production, as well as thermal coal, by 2024 in line with the guidance. The company reported that it would produce 951,600 tons of copper by 2024.
FTSE 100 drops as a stronger sterling hurts export-focused companies; Burberry soars
The UK's FTSE 100 fell on Friday as a rise in sterling hurt firms that export. Burberry, however, soared, after a strong U.S. Holiday season helped the luxury company beat its quarterly sales targets.
Glencore opens to deals as investors prepare for more mining M&A
Glencore, the commodity and miner trader, said that it was open to M&A deals that created value for its investors. It is leveraging its position in the top three producers of copper globally.
Six US LNG cargoes diverted to Europe by LNG traders
Analysts and shipping data indicate that traders diverted six cargoes of LNG bound for Asia into Europe in the first half of this month due to higher European prices, and weaker Asian demand.
Rio Tinto shares fall on merger failure reports; banks weigh down on Australia's shares
The Australian share market fell Friday due to the fall in banking stocks, and Rio Tinto's decline on news of failed merger talks with Glencore. The S&P/ASX 200 ended the week 0.2% lower, at 8,310.4.
Glencore's and Rio Tinto’s mining operations
A person familiar with this matter stated that Glencore had approached Rio Tinto in late 2013 about merging the two major copper producers. However, the talks are no longer ongoing.
British Business - January 17
These are the most popular stories in the British business pages. These stories have not been verified and we cannot vouch for the accuracy of these reports. BP announced on Thursday…
Australian shares flat: Rio Tinto drags down miners after merger talks
Australian shares were flat on Friday. Gains in healthcare companies were offset by losses among miners. Rio Tinto fell on speculation about early merger talks with London listed smaller rival Glencore.
Bloomberg News: RPT Rio Tinto and Glencore are in early merger talks
Bloomberg News reported Thursday that Glencore and Rio Tinto have had early-stage discussions about merging their businesses. The report was based on people familiar with this matter.
Bloomberg News reports that Rio Tinto and Glencore are in early merger talks.
Bloomberg News reported Thursday that Glencore and Rio Tinto have had early-stage discussions about merging their businesses. The report was based on people familiar with this matter.
Canadian farmers warn Bunge Viterra's takeover of Bunge will reduce competition
Farmers say that Canada's approval for Bunge's $34 billion takeover of Glencore's Viterra by U.S. grain traders Bunge will reduce their ability to sell crops at competitive rates and…
Canada approves Bunge-Viterra merger worth $34 billion with conditions
Canada approved Bunge's $34 Billion merger with Glencore-backed Viterra on Tuesday, subject to conditions. This was the last remaining obstacle for an unprecedented global agricultural tie-up.
Peru's No. Adolfo Heeren is named new CEO of Antamina, Peru's No.
Antamina is the second largest copper mine in Peru. It announced on Thursday that Adolfo Héren was appointed as its new CEO and General Manager. Heeren will take over the role of CEO for Anglo American Peru on February 1…
Escondida copper output at BHP and Codelco is up in October.
Data from the copper commission Cochilco on Tuesday showed that Chile's state copper miner Codelco posted flat production in the month of October, compared with the same period last year…
