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Glencore PLC (GLEN.L)

GLEN.L on London Stock Exchange

295.15GBp
13 Dec 2018
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Latest Key Developments (Source: Significant Developments)

Glencore Q3 Own Sourced Copper Production 366.9 kt Vs 303.6 kt
Friday, 26 Oct 2018 02:00am EDT 

Oct 26 (Reuters) - Glencore PLC ::THIRD QUARTER 2018 PRODUCTION REPORT.Q3 OWN SOURCED COPPER PRODUCTION 366.9 KT VERSUS 303.6 KT.Q3 OWN SOURCED COBALT PRODUCTION 11.8 KT VERSUS 7.1 KT.YTD OWN SOURCE ZINC PRODUCTION OF 786,000 TONNES WAS 41,400 TONNES (5%) DOWN.YTD OWN SOURCED NICKEL PRODUCTION OF 90,900 TONNES WAS 10,200 TONNES (13%) HIGHER.YTD ATTRIBUTABLE FERROCHROME PRODUCTION OF 1,145,000 TONNES WAS IN LINE WITH COMPARABLE 2017 PERIOD​.YTD OWN SOURCED COPPER PRODUCTION OF 1,063,100 TONNES WAS 116,600 TONNES HIGHER THAN COMPARABLE 2017 PERIOD.YTD COAL PRODUCTION OF 96.7 MILLION TONNES WAS 5.7 MILLION TONNES (6%) HIGHER.YTD ENTITLEMENT INTEREST OIL PRODUCTION OF 3.4 MILLION BARRELS WAS 0.5 MILLION BARRELS (14%) BELOW COMPARABLE 2017 PERIOD.SEES FY COPPER PRODUCTION 1,465 KT PLUS OR MINUS 20 KT.SEES FY COBALT PRODUCTION 39 KT PLUS OR MINUS 2 KT.SEES FY ZINC PRODUCTION 1,090 KT PLUS OR MINUS 20 KT.SEES FY FERROCHROME PRODUCTION 1,600 KT PLUS OR MINUS 20 KT.YTD OWN SOURCED COBALT PRODUCTION OF 28,500 TONNES WAS 8,700 TONNES (44%) HIGHER.SEES FY OIL PRODUCTION 4.6 MBBL PLUS OR MINUS 0.2 MBBL.  Full Article

Glencore Announces Issuance Of Convertible Bonds For Up To $150 Mln
Wednesday, 19 Sep 2018 11:45am EDT 

Sept 19 (Reuters) - Glencore PLC ::GLENCORE PLC - GLENCORE ANNOUNCES ISSUANCE OF CONVERTIBLE BONDS.GLENCORE PLC - LAUNCHES A TAP ISSUE OF NON-DILUTIVE ZERO COUPON CASH SETTLED GUARANTEED CONVERTIBLE BONDS FOR UP TO USD 150 MILLION.GLENCORE PLC - NET PROCEEDS OF OFFERING OF NEW BONDS WILL BE USED FOR GENERAL CORPORATE PURPOSES AND FOR PURCHASE OF CALL OPTIONS.GLENCORE - CONVERTIBLE BONDS FOR UP TO $150 MILLION TO BE CONSOLIDATED WITH $500 MILLION CASH SETTLED GUARANTEED CONVERTIBLE BONDS DUE 2025.  Full Article

African Rainbow Minerals Announces Restructuring Of ARM Coal Debt
Monday, 25 Jun 2018 07:50am EDT 

June 25 (Reuters) - African Rainbow Minerals Ltd ::RESTRUCTURING OF ARM COAL DEBT.PARTIES CONCLUDED RESTRUCTURING OF DEBT OF R3.98 BILLION OWED BY ARM AND ARM COAL TO GOSA AT 30 JUNE 2017.PARTIES ALSO CONCLUDED RESTRUCTURING OF DEBT OF R1.83 BILLION OWED BY PCB TO ARM AND ARM COAL AT 30 JUNE 2017.MATURITY DATE FOR ALL DEBT OWED BY ARM AND ARM COAL TO GOSA IS EXTENDED TO 31 DECEMBER 2029.  Full Article

Glencore Says Katangas Settlement Agreement With Gécamines Fulfilled
Thursday, 14 Jun 2018 10:44am EDT 

June 14 (Reuters) - Glencore PLC ::KATANGAS SETTLEMENT AGRMT WITH GÉCAMINES EFFECTIVE.CONFIRMS THAT CONDITION PRECEDENT TO SETTLEMENT AGREEMENT WITH GECAMINES HAS NOW BEEN FULFILLED.SETTLEMENT AGREEMENT WITH GECAMINES IS UNCONDITIONAL.  Full Article

Katanga Mining Settles DRC Legal Dispute With Gecamines
Tuesday, 12 Jun 2018 01:42pm EDT 

June 12 (Reuters) - Katanga Mining Ltd ::KATANGA MINING ANNOUNCES SETTLEMENT OF DRC LEGAL DISPUTE WITH GÉCAMINES AND AGREEMENT FOR THE RESOLUTION OF KCC CAPITAL DEFICIENCY.KATANGA MINING - GÉCAMINES, KATANGA & KCC AGREED ON A RECAPITALIZATION PLAN THAT WILL ALLOW RECONSTRUCTION OF NET EQUITY OF KCC.KATANGA MINING - SETTLEMENT AGREEMENT INCLUDES ONE-TIME SETTLEMENT PAYMENT BY CO TO GÉCAMINES, PAYABLE ON JUNE 14, OF $150 MILLION.KATANGA - ENTERED AGREEMENT WITH JV PARTNER LA GÉNÉRALE DES CARRIÈRES ET DES MINES TO TERMINATE LEGAL PROCEEDINGS BROUGHT BY GÉCAMINES IN DRC COURTS.KATANGA MINING - ON CLOSING DATE, GÉCAMINES WILL WITHDRAW LEGAL PROCEEDINGS COMMENCED ON APRIL 20, 2018 IN KOLWEZI COMMERCIAL COURT.KATANGA MINING - $150 MILLION SETTLEMENT PAYMENT WILL BE FUNDED BY NEW LOANS TO KMFL UNDER NEW CREDIT FACILITY.KATANGA MINING - KCC AGREED THAT IT WILL WAIVE CONTRACTUAL RIGHT TO RECEIVE REPLACEMENT RESERVES OR EQUIVALENT CASH PAYMENT OF $285 MILLION.KATANGA MINING - TRANSACTIONS WILL NOT IMPACT CO'S PREVIOUSLY REPORTED CONSOLIDATED NET ASSETS OR CONSOLIDATED LIABILITIES.  Full Article

Jefferies expects copper market to remain balanced in near term
Tuesday, 12 Jun 2018 12:18am EDT 

June 12 (Reuters) - :GLOBAL METALS AND MINING: JEFFERIES EXPECTS THE COPPER MARKET TO REMAIN BALANCED WITH SOME POTENTIAL DOWNSIDE RISK TO PRICES IN THE VERY NEAR TERM.GLOBAL METALS AND MINING: JEFFERIES SAYS DEFICITS MAY BEGIN OVER NEXT 6-12 MONTHS AS SUPPLY CONSTRAINTS INTENSIFY AND DEMAND GROWS.  Full Article

Congo Court Suspends Gecamines Bid To Dissolve Glencore Unit Until June - Bloomberg
Tuesday, 8 May 2018 09:32am EDT 

May 8 (Reuters) - :CONGO COURT SUSPENDS GECAMINES BID TO DISSOLVE GLENCORE UNIT UNTIL JUNE - BLOOMBERG.  Full Article

Katanga Mining Says First Supreme Court Hearing On Legal Proceedings Commenced By DRC-owned Gecamines On June 15
Tuesday, 8 May 2018 09:26am EDT 

May 8 (Reuters) - Katanga Mining Ltd ::KATANGA MINING PROVIDES AN UPDATE ON LEGAL PROCEEDINGS COMMENCED BY GECAMINES.OBTAINED DECISION FROM SUPREME COURT OF DRC ON MAY 4 ALLOWING KCC TO CHALLENGE COMPETENCY OF KOLWEZI COURT TO RULE ON CAPITAL DEFICIENCY PROCEEDINGS.KOLWEZI COURT WAS NOTIFIED OF DECISION OF SUPREME COURT ON MAY 7, 2018.AS A RESULT OF DECISION OF SUPREME COURT, KOLWEZI COURT CONCLUDED TODAY THAT PREVIOUSLY SCHEDULED CAPITAL DEFICIENCY PROCEEDINGS SHOULD BE SUSPENDED.FIRST HEARING OF SUPREME COURT IS SCHEDULED ON JUNE 15, 2018."REMAINS DETERMINED TO FIND A MUTUALLY AGREEABLE RESOLUTION OF DISPUTES WITH GÉCAMINES".  Full Article

Glencore Says Filing Of Freezing Orders Against Subsidiaries Mutanda And Kamoto
Friday, 27 Apr 2018 12:17pm EDT 

April 27 (Reuters) - Glencore PLC ::FILING OF FREEZING ORDERS AGAINST MUTANDA+KAMOTO.VENTORA DEVELOPMENT SASU HAS SERVED IN DEMOCRATIC REPUBLIC OF CONGO FREEZING ORDERS AGAINST MUTANDA MINING SARL AND KAMOTO COPPER CO (KCC), SUBSIDIARIES OF GLENCORE, FOR ABOUT $695 MILLION AND $2.28 BILLION RESPECTIVELY.VENTORA ALLEGES MUTANDA HAS BREACHED AGREEMENT WITH VENTORA PURSUANT TO WHICH IT ALLEGES MUTANDA IS REQUIRED TO MAKE ROYALTY PAYMENTS TO VENTORA.VENTORA ASSERTS IF ITS CLAIM FOR BREACH IS UPHELD IT WILL BE ENTITLED TO DAMAGES OF ABOUT $695 MILLION WHICH IT ALLEGES IS VALUE OF FUTURE ROYALTIES DUE TO IT UNDER AGREEMENT.ASSESSING IMPACT OF FREEZING ORDER ON MUTANDA AND KCC'S OPERATIONS IN DRC, BUT NOTES FREEZING ORDERS MAY MATERIALLY ADVERSELY AFFECT SUCH OPERATION.DENIES THAT MUTANDA AND KCC ARE IN BREACH OF ANY OF THEIR OBLIGATIONS UNDER THEIR RESPECTIVE AGREEMENTS WITH VENTORA AND AHIL.ENTIRELY REJECTS VENTORA'S CALCULATION OF VALUE OF FUTURE ROYALTIES ALLEGEDLY OWED TO VENTORA.  Full Article

Glencore Restructures Loans To Polymet, Aquires Common Share Purchase Warrants
Wednesday, 28 Mar 2018 09:42am EDT 

March 28 (Reuters) - Glencore Plc ::GLENCORE RESTRUCTURES LOANS TO POLYMET AND ACQUIRES COMMON SHARE PURCHASE WARRANTS.GLENCORE RESTRUCTURES LOANS TO POLYMET AND ACQUIRES COMMON SHARE PURCHASE WARRANTS.UNIT ENTERED INTO AMENDMENT TO PURCHASE AGREEMENT WITH POLYMET MINING CORP. AND POLY MET MINING​.‍MATURITY OF AGGREGATE OF $152 MILLION OF OUTSTANDING SECURED CONVERTIBLE, NON-CONVERTIBLE DEBENTURES EXTENDED BY 12 MONTHS, TO MARCH 31, 2019​.ALSO AGREED TO LEND UP TO AN ADDITIONAL US$80 MILLION TO POLYMET OVER NEXT 12 MONTH IN FIVE TRANCHES​.  Full Article

UK Stocks-Factors to watch on Dec 14

Dec 14 Britain's FTSE 100 index is seen opening 54 points lower at 6,877.5 on Friday, according to financial bookmakers. * GLENCORE: Chinese battery firm GEM has stopped buying cobalt from Glencore as the price of the battery material crashed below that agreed in a three-year deal between the two companies, sources close to the matter said. * WPP: WPP Plc said it had hired Laurent Ezekiel from its French rival Publicis to be its chief marketing and growth officer