Glencore PLC

Glencore shares were traded for the first time on the ASX as CHESS Depositary Interests. The securities opened at 11.44 AUD and later fell to 11.23 AUD, around 1.9% below the opening price. Glencore cites strengthening its presence in Australia, access to experienced commodity investors and increased financial flexibility as reasons for the secondary listing; the company aims in the long term for trading volumes similar to those in Johannesburg. » Mere på finanzen.net

Glencore has had the Mara copper project included in Argentina’s Rigi encouragement program, securing tax and regulatory certainty for the planned major investment. Mara links the Agua Rica deposit with the Alumbrera processing facilities and contains estimated mineral resources of about 1.2 billion tonnes of ore. In the first ten years the project could produce more than 200,000 tonnes of copper concentrate annually; the deposit also contains gold, silver and molybdenum. The restart of Alumbrera is progressing faster and is now expected in the second half of 2027, which should ease Mara’s subsequent ramp-up. » Mere på finanzen.net

Glencore adjusts the methodology for its long-term marketing EBIT guidance and increases the range to $2.8–4.2 billion (previously $2.3–3.5). The new calculation takes into account financing costs and changes in readily saleable commodity inventories (RMI) and is intended to apply from 2027. For the current year the group expects adjusted marketing EBIT of over $5 billion (previously about $4.9). Glencore also plans a secondary listing on the ASX with trading of CHESS Depositary Interests from 14 October 2026. » Mere på finanzen.net

Glencore was selected as the partner for the newly established VaultCo to procure, on behalf of the US government, $500 million worth of reserves of critical minerals. The aim is to build a strategic minerals reserve to strengthen and ease pressure on US supply chains and to support domestic industry. Glencore shares rose on Wednesday as much as 1.01 percent to 5.51 GBP. » Mere på finanzen.net

Glencore has cut business ties with Radiant World, Sapphire Minmetals and affiliated firms after evidence was found of forged invoices, contracts and fabricated emails allegedly sent by Glencore employees. The group is now reviewing its historical transactions with the insolvency‑threatened iron‑ore trader. Claims by the named firms against Glencore are being described as unfounded and will be contested in court. Financial exposure, after provisions, is well below the previously cited threshold of $500 million. » Mere på finanzen.net