Glencore PLC (GLEN.L)
12 Dec 2017
LONDON Miner and trader Glencore said on Tuesday its battery minerals, especially cobalt, should spur profit in 2017 and beyond in an update for investors that also promised to grow the business, especially through partnerships.
Shares in Glencore-owned Katanga Mining Ltd, surged for the second straight day on Tuesday on news it has restarted a copper and cobalt mining operation that will become one of the world's biggest producers of cobalt, a critical ingredient for electric vehicle batteries.
Dec 12 Shares in Glencore-owned Katanga Mining Ltd, surged for the second straight day on Tuesday on news it has restarted a copper and cobalt mining operation that will become one of the world's biggest producers of cobalt, a critical ingredient for electric vehicle batteries.
* Says has "zero interest" in lithium (Updates with share price, further detail)
* LME/ShFE arb: http://bit.ly/2wZSAEz (Adds closing prices) By Maytaal Angel LONDON, Dec 12 Zinc prices rose on Tuesday after miner and trader Glencore held its output forecast steady for next year, disappointing investors who had largely bet it would restart more capacity. Glencore told an investors presentation it would restart its Lady Loretta mine in the first half of 2018, but added that it expects zinc output to fall slightly to about 1.09 million ton
LONDON, Dec 12 Glencore said on Tuesday its Katanga mine in the Democratic Republic of Congo produced its first copper cathodes on Monday as it restarts after output was suspended in 2015.
* PLANS TO PROGRESSIVELY RAMP UP LADY LORETTA MINE, ANTICIPATE RESTART IN H1 2018 - INVESTOR CALL
* 2018-2020 INDUSTRIAL CAPEX AVERAGE GUIDANCE OF ABOUT $4.5BN PER ANNUM
LONDON, Dec 12 Glencore said on Tuesday it expected zinc output to fall slightly in 2018 to around 1.09 million tonnes versus 1.1 million tonnes this year.
* 2018 ILLUSTRATIVE EBITDA OF C.$16.2BN AT SPOT/FORWARD PRICES