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Glencore Reports Loss, Warns on Trading Profit


Key Speakers At The Sberbank Russia Forum 2013
London based Glencore PLC swung to a steep, first half-year loss, hit by sharp price falls in the raw materials it extracts and lower profit from the trading business that was supposed to cushion it against such a commodities-market rout.

The world’s third-largest globally diversified miner by market capitalization on Wednesday reported a net loss of $676 million in the six months to end-June–missing analysts’ expectations for a net profit of around $728 million–compared with net profit of $1.72 billion in the same period last year.

Read the full story at Morning Star by Alex MacDonald



Ivan Glasenberg

Mining giant Glencore’s chief Ivan

Glasenberg has announced the company

is cutting its national production by 15

million tons, Australian ABC reported.

Glasenberg said the company’s balance

sheet is More…

Key Speakers At The Sberbank Russia Forum 2013

Glencore CEO Ivan Glasenberg made no

bones about the fact that he thinks oil will

recover in 2015. He told the Financial Times

that the commodity will “blow out the lights”

in 2015, after a year which More…

Glencore mining

Diversified mining company Glencore is

considering the closure of some of its

coal-mining operations in South Africa,

which would reduce its overall South African

production by at least five-million saleable

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tons More…

Key Speakers At The Sberbank Russia Forum 2013

A multibillion-dollar merger between

commodities conglomerate Glencore and

mining giant Rio Tinto may take place this

year as Glencore’s CEO is pushing for the deal,

a report said. A Glencore-Rio tie-up would More…

Ivan Glasenberg  bloomberg getty FRONT

– Glencore CEO Ivan Glasenberg might be ready

to make another bid for Rio Tinto, but it may

be Chinese investors who will call the shots if

the merger goes through, according to FNArena

News. Glencore, the fourth More…

Key Speakers At The Sberbank Russia Forum 2013

A U.K-based hedge fund manager Ian Hannam,

said Glencore’s buying Rio Tinto is very likely

to happen. Ivan Glasenberg has made Glencore

into an international mining behemoth, and if it

merges with More…

Ivan Glasenberg  bloomberg getty

Glencore CEO Ivan Glasenberg executed the

highly successful acquisition of Xstrata, and

many wonder what he is going to buy next.

While competitors are having to trim the fat,

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Glencore is flush with cash and can More…

Ivan Glasenberg / Getty

Mark Cutifani, CEO of Anglo-American, said

he is willing to sell the DeBeers segment of his

business, but Swiss-based Glencore doesn’t want

to buy it. DeBeers is the second largest diamond

miner More…





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