The Local Switzerland

Swiss mining company Glencore post higher profits despite fraud probes

Thu, 09 Aug 2018 11:10:31 +0200

Mining giant Glencore posted higher first-half net profit on Wednesday August 8th, shrugging off a number of adverse factors, such as a corruption probe in the United States

Swiss mining company accused of payments to 'known corruption risk'

Mon, 06 Mar 2017 09:31:32 +0100

International watchdog Global Witness on Friday accused Swiss-based mining corporation Glencore of paying more than $75 million to a scandal-hit Israeli businessman with close links to the Democratic Republic of Congo's President Joseph Kabila.

Glencore announces loss of $5 billion in 2015

Tue, 01 Mar 2016 10:05:04 +0100

Debt-laden mining and commodities giant Glencore on Monday reported results deep in the red for 2015 due to plunging prices for metals and oil.

Swiss mining firm faces multi-billion-dollar debt

Mon, 07 Sep 2015 14:10:38 +0200

Swiss mining giant Glencore, hit by a collapse in commodities prices, announced on Monday a series of extraordinary measures to eliminate roughly a third of its $30 billion dollar (27 billion euros) net debt.

Glencore in black despite low commodity prices

Tue, 03 Mar 2015 14:42:43 +0100

Swiss mining and commodities giant Glencore was back in the black in 2014, posting a $2.3 billion net profit, but took a $1.1 billion impairment charge on dwindling commodity prices, it said on Tuesday.

Glencore decides to unload Lonmin stake

Wed, 11 Feb 2015 13:12:59 +0100

Swiss mining and commodities giant Glencore on Wednesday announced plans to unload its 23.9 percent stake in South African platinum producer Lonmin and distribute the shares to its own shareholders.

Glencore bid to merge rejected by Rio Tinto

Tue, 07 Oct 2014 21:02:00 +0200

UPDATED — Resources giant Rio Tinto has revealed it rejected a potential merger with Glencore in July, following a report the Swiss mining rival was in talks with major shareholder Chinalco.

Glencore Xstrata switches back into black

Wed, 20 Aug 2014 14:27:38 +0200

Mining giant Glencore Xstrata reported a sharp improvement in first-half performance on Wednesday, marking a big switch back into profit.

Glencore Xstrata names first woman director

Thu, 26 Jun 2014 20:48:00 +0200

Swiss-based Mining and commodities giant Glencore Xstrata says it has appointed the first woman to its board, following criticism of the lack of diversity in its oversight body.

Glencore Xstrata sells stake in Peru mine

Mon, 14 Apr 2014 11:45:00 +0200

China Minmetals said on Monday that a consortium led by one of its subsidiaries MMG has agreed to buy Swiss-based Glencore Xstrata Plc's stake in the Las Bambas copper mine project in Peru for $5.85 billion.

Glencore Xtrata reports higher mining output

Tue, 11 Feb 2014 14:52:23 +0100

Swiss-based mining giant Glencore Xstrata said on Tuesday that its copper production rose by 26 percent in 2013 from output the previous year, reaching 1.5 million tonnes.

Swiss mining giant plans Philippine project exit

Sat, 01 Feb 2014 09:21:00 +0100

Swiss mining giant Glencore Xstrata is expected to pull out of a $5.9 billion gold-copper mining project in the Philippines, its Australian partner Indophil said.

Philippine protests delay Xstrata mine project

Wed, 12 Dec 2012 19:23:00 +0100

Swiss mining giant Xstrata is delaying the commercial production of its $5.9-billion gold and copper mine in the Philippines to 2019 due to problems with security and the government, the company says.

EC attaches conditions to Swiss mega merger

Thu, 22 Nov 2012 14:57:00 +0100

The European Commission on Thursday gave a conditional green light to the massive tie-up between Swiss mining giant Xstrata and commodities trader Glencore that would create a global leader.

Glencore and Xstrata in blockbuster merger

Tue, 07 Feb 2012 15:03:00 +0100

Raw materials giant Glencore and mining firm Xstrata announced a vast merger on Tuesday, creating a $90 billion group and a new powerhouse in the global commodities industry.

Glencore accused of Zambia exploitation

Tue, 20 Sep 2011 13:17:00 +0200

Copper-rich Zambia is a victim of Swiss-based commodity companies who rake in profits by exploiting developing countries, a new book out on Monday claimed.

Mining giant sees profits soar

Tue, 02 Aug 2011 17:08:30 +0200

Anglo-Swiss mining giant Xstrata said Tuesday its first half net profit jumped 27 percent to $2.9 billion (€2.0 billion) and that it expected even better earnings for the second half.

Xstrata boss hints at Glencore merger

Tue, 08 Mar 2011 15:42:00 +0100

The chief executive of Swiss mining group Xstrata has suggested that an independent listing of both his company and commodities giant Glencore would be unsustainable.