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Glencore PLC (GLCNF.PK)

GLCNF.PK on OTC Markets Group

17 Feb 2017
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Latest Key Developments (Source: Significant Developments)

Glencore says purchases stakes in Mutanda and Katanga
Monday, 13 Feb 2017 11:00am EST 

Glencore Plc : Today purchased from subsidiaries of fleurette properties limited, fleurette group's remaining 31 pct stake in Mutanda mining sarl and an approximate 10.25 pct stake in Katanga mining limited . Consideration for Mutanda shares is us$922 million and Katanga shares is us$38 million. . Glencore - glencore will set-off against cash consideration payable to fleurette, loans owing to glencore group by fleurette and its affiliates, and secured over Mutanda shares, amounting to us$556 million of which us$120 million comprises accrued interest . In addition, glencore has acquired shareholder loans owed to fleurette group by Mutanda mining sarl in amount of us$130 million. . Accordingly, aggregate cash consideration payable by glencore group in respect of transactions is us$534 million. . In addition, glencore has acquired a further 15,325,000 shares in Katanga mining limited ("Katanga"), which were held as security for a loan provided to Ruwenzori Limited, a member of Fleurette Group .Glencore now owns 100 pct of shares in Mutanda and approximately 86.33 pct of shares in Katanga..  Full Article

Glencore maintains 2017 full-year production guidance
Thursday, 2 Feb 2017 02:00am EST 

Glencore Plc : Full year production was in line with guidance, reflecting production suspensions in copper, zinc, coal and oil. . Solid q4 2016 production across board. . Full year own-sourced copper production of 1,425,800 tonnes was 5 pct lower than 2015 . Full year own-sourced zinc production of 1,094,100 tonnes was 24 pct down on 2015 . Full year own-sourced nickel production of 115,100 tonnes was 20 pct higher than 2015 . Full year coal production of 124.9 million tonnes was 5 pct down on 2015, mainly reflecting divestment of optimum coal. . Full year glencore's entitlement oil interest of 7.5 million barrels was 29 pct lower than 2015, due to depletion of existing fields. . 2017 production guidance, unchanged from investor update on 1 december 2016 . Sees 2017 copper production at 1,355 ± 25 kt . Sees 2017 zinc production at 1,190 ± 25 kt . Sees 2017 lead production at 300 ± 10 kt . Sees 2017 coal production at 135 ± 3 mt .Sees 2017 nickel production at 120 ± 4 kt.  Full Article

Noranda Income Fund announces agreement with Glencore Canada for purchase of concentrate and sale of metal
Tuesday, 31 Jan 2017 05:21pm EST 

Noranda Income Fund : Noranda Income Fund announces agreement with Glencore Canada for purchase of concentrate and sale of metal . Noranda Income Fund - Initial term of supply and processing agreement expires on May 2, 2017 . Noranda Income Fund - Glencore Canada will supply fund with all of its zinc concentrate requirements for 12 month period ending April 30, 2018 . Noranda Income Fund - Glencore Canada has renewed supply and processing agreement for a five year term that will end on May 2, 2022 .Noranda Income Fund- Board of trustees has announced suspension of future monthly distributions to unitholders.  Full Article

Glencore says accepted $1.34 bln in notes tender offer
Thursday, 15 Dec 2016 06:41am EST 

Glencore Plc : Has accepted $1.34 billion of principal amount of notes for purchase as of its early tender date .Glencore announces early tender offer results.  Full Article

Glencore pegs idled zinc production restart on market conditions
Thursday, 1 Dec 2016 07:17am EST 

Glencore Plc : Restart of idled capacity remains dependent on market conditions . Significant reductions in 2016 copper and zinc cost structures expected to be sustained into 2017 . Curtailed capacity to be returned at right time/price, at minimal cost; potential volume increase of c.40 pct in zinc and c.30 pct in copper . By end of December, coal hedges will be down to around 11million tonnes .90Kt net increase in 2017 production guidance mainly reflects higher grades at Antamina.  Full Article

Glencore says note holders can tender notes for up to $1 bln in cash
Thursday, 1 Dec 2016 06:30am EST 

Glencore Plc : Announces $1,000,000,000 tender offer . Glencore Funding Llc invited holders to tender some or all of their notes for purchase by company for cash of up to $1.00 billion .All holders of notes accepted for purchase will receive accrued and unpaid interest from last interest payment date up to applicable payment date..  Full Article

Glencore announces new distribution policy for 2018
Thursday, 1 Dec 2016 02:00am EST 

Glencore Plc : Glencore plc - investor update . Debt reduction plan nearing completion and capital structure repositioned . On track for $16.5-$17.5 billion net debt by end 2016 . Divestment processes successfully completed at $6.3 billion versus original guidance of $1-2 billion . 2017 illustrative free cash flow of c.$6.5 billion from EBITDA of c.$14.0 billion at calendar 2017 prices . 2016 marketing EBIT expected towards upper end of recently tightened guidance range of $2.5 to $2.7 billion . New distribution policy to take effect from 2018, comprises of fixed $1 billion base distribution .New distribution policy comprises also of variable distribution representing min payout of 25 percent of industrial free cash flow.  Full Article

Glencore updates on some completes disposals
Thursday, 1 Dec 2016 02:00am EST 

Glencore Plc : Disposals programme completions . Has today completed sales of its Grail business for AUD1.14 billion to Genesee & Wyoming Australia . Completed sale of stakes totalling 49.99 pct in Glencore Agriculture to Canada Pension Plan Investment Board and British Columbia Investment for $3.124 billion in aggregate . Sale of an economic interest in Ernest Henry Copper-Gold operation to Evolution Mining Limited completed at beginning of November, with Glencore then receiving AUD880 million .Total proceeds from transactions referred to above, all of which have been received, are $4.7 billion.  Full Article

Glencore Plc says trading in HK ordinary shares will be halted with effect from 1 December 2016
Wednesday, 30 Nov 2016 08:14pm EST 

Glencore Plc : Glencore-s-trading Halt <0805.HK> . Glencore Plc trading in its HK ordinary shares will be halted with effect from Thursday, 1 December 2016 .Seeks trading halt pending co's release of business update to be presented on scheduled investor day and which may constitute as inside information.  Full Article

Century Aluminum says CFO Rick Dillon to depart
Friday, 18 Nov 2016 09:05am EST 

Century Aluminum Co : Says CFO Rick Dillon will be leaving company . Says CEO Michael Bless, will assume responsibilities of principal financial officer until board selects Dillon's replacement .Century announces departure of chief financial officer; chief executive officer to assume interim role as principal financial officer.  Full Article

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