Glencore investors have moved to force greater disclosure on its coal production plans, as the world’s most profitable miner of the fossil fuel faces questions over its climate impact. A group of shareholders including Legal & General Investment Management and HSBC Asset Management has filed a resolution calling for detail on the matter, which will … Read more
London CNN Business — Commodities giant Glencore (GLCNF) has been ordered to pay a record £281 million ($314 million) penalty by a UK court for bribing officials across Africa to gain access to oil. The UK government’s Serious Fraud Office (SFO), which brought the case against Glencore Energy UK, said on Thursday that the penalty … Read more
Zambia’s Anti-Corruption Commission has opened an investigation into an alleged payment made by Glencore, the London-listed trading house, to an unnamed political party. The probe in the southern African nation is the latest headache for Glencore, which has been trying to turn over a fresh leaf under new chief executive Gary Nagle. The Swiss-based trading … Read more
More than a dozen global investors are suing Glencore in London’s High Court, in a class-action-style lawsuit prompted by the company’s conviction of bribery earlier this year. Sovereign wealth funds including Mubadala, the Kuwait Investment Authority, Norges Bank and the International Petroleum Investment Company have brought claims against the mining and commodity trading group, according … Read more
Breadcrumb Trail Links PMN Business (Bloomberg) — Commodities giant Glencore Plc will invest C$520 million ($403 million) over five years in a copper smelter in northern Quebec to curb toxic emissions that health officials say have caused increased risk of cancer and other problems. Author of the article: Bloomberg News Mathieu Dion wk7vw7sw4{nwj5qy856ftp4o_media_dl_1.png Bloomberg RSS … Read more
Glencore and other global trading groups have stopped supplying Chinese metals merchant Huludao Ruisheng after $500mn worth of copper went missing in a scandal that threatens to squeeze commodity financing in the country. Glencore and Geneva-based IXM have stopped supplying the Hebei-based group, according to people familiar with the matter. Glencore had also transferred some … Read more
The natural resources group’s shareholders will be generously rewarded Source link
(Bloomberg) — Glencore Plc will return an additional $4.45 billion to shareholders in dividends and share buybacks after first-half profit more than doubled to a record thanks to surging coal prices. Most Read from Bloomberg Glencore, the world’s top coal shipper, has been one of the biggest winners from the global energy crunch as demand … Read more