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Glencore PLC (GLEN.L)

GLEN.L on London Stock Exchange

25 May 2017
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1.10 (+0.38%)
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Latest Key Developments (Source: Significant Developments)

Century Aluminum Q4 loss per share $1.93
Thursday, 23 Feb 2017 04:05pm EST 

Century Aluminum Co : Century reports fourth quarter 2016 financial results . Q4 adjusted loss per share $0.12 . Q4 loss per share $1.93 . Q4 sales $339.8 million versus I/B/E/S view $346.3 million .Q4 earnings per share view $-0.16 -- Thomson Reuters I/B/E/S.  Full Article

Glencore reports 18 percent 2016 core profit rise on commodity rebound
Thursday, 23 Feb 2017 02:00am EST 

Glencore Plc : FY adjusted ebitda of $10.3 billion, up 18 pct; adjusted EBIT of $3.9 billion, up 81 pct . FY pre-significant items basic earnings per share 14 cents . Significant reductions in copper and zinc cost structure expected to be sustained into 2017 . Available committed liquidity of $16.7 billion at 2016 end . Net funding by $14.7 billion over past eighteen months and generated more than $1.3 billion in cost savings at our industrial assets in 2016. . Despite an uncertain start to 2016, commodities finally started reversing five years of underperformance compared to other asset classes . FY marketing adjusted EBIT of $2.8 billion, up 14 pct, supported by improved demand conditions . At the end of 2016, net funding and net debt of $32.6 billion and $15.5 billion respectively . FY energy products adjusted EBITDA of $2,462 million was 20% down on 2015 .FY revenue $152.95 billion versus $147.35 billion last year.  Full Article

Glencore PLC requests trading halt of H shares
Wednesday, 22 Feb 2017 08:14pm EST 

Glencore PLC:Requests trading halt of H shares pending company's release of its preliminary results of 2016 which may contain inside information.  Full Article

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

More From Around the Web

Moody's sees Glencore paying up to $6 billion in possible deal with Bunge

LONDON, May 26 Miner and trader Glencore may have to pay up to $6 billion in cash in a possible tie-up with U.S. grains trader Bunge based on current valuations, Moody's ratings agency said on Friday, adding it did not expect an outright acquisition.