Glencore PLC

Mercuria, together with investment firm Heeney Capital, is in talks with the Venezuelan government about an agreement for the Venalum aluminum smelter that would govern operation of the smelting plant and access to the metal produced. Glencore is another bidder; no final agreement has been reached and the negotiations could fail. A successful deal would mark a significant push by leading commodity traders into Venezuela’s industrial sector. » More on de.investing.com

Orion Minerals has outlined a concrete plan to bring Prieska into production as its flagship project within about 12 months after financing is closed and to optimise Okiep as a second growth option. The company has signed an advance payment and offtake agreement with Glencore for $250 million in three tranches over 10 years; Glencore receives the marketing rights for bulk, copper and zinc concentrates. At full capacity Prieska is expected to process 2.4 million t of ore per year and to deliver around 22,000 t of copper and 65,000 t of zinc in concentrate annually; implementation remains dependent on final financing and construction. Orion also highlights an exploration portfolio of about 3,500 km² and its selection for the BHP Xplor program as the only mining company from the EMEA region. » More on de.investing.com

Glencore will pay a combined cash distribution of $0.17 per ordinary share on 18 September, consisting of a second tranche of $0.085 and a special distribution of $0.085. Shareholders in Jersey who opted for payment in another currency will receive about 12.55 pence, €0.146155 or CHF0.137522 per share; the exchange rates are based on the WM/Reuters closing price of the London Stock Exchange. For the Johannesburg register the amount was already fixed on 18 August. Glencore notes that the distributions may, under certain conditions, qualify as qualified dividends for US tax purposes. » More on de.investing.com