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United Kingdom

Glencore PLC (GLEN.L)

GLEN.L on London Stock Exchange

297.75GBp
18 Jan 2019
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Latest Key Developments (Source: Significant Developments)

Victoria Oil & Gas Gets Presidential Decree On Matanda Production Licence
Wednesday, 2 Jan 2019 

Jan 2 (Reuters) - Victoria Oil & Gas PLC ::PRESIDENTIAL DECREE ON MATANDA RECEIVED.UNIT GOT DECREE AUTHORISING TRANSFER OF INTEREST IN MATANDA PRODUCTION SHARING AGREEMENT LICENCE ASSIGNED FROM GLENCORE.  Full Article

Katanga settles Congo investigation with Canadian regulator
Tuesday, 18 Dec 2018 

Dec 18 (Reuters) - Katanga Mining Ltd ::KATANGA MINING ANNOUNCES APPROVAL OF AGREEMENT TO SETTLE ONTARIO SECURITIES COMMISSION MATTERS.KATANGA WILL MAKE A VOLUNTARY PAYMENT IN AMOUNT OF C$28.5 MILLION.CEO JOHNNY BLIZZARD WILL RESIGN AS A DIRECTOR AND OFFICER OF COMPANY.WILL MAKE REIMBURSE COMMISSION COSTS IN AMOUNT OF C$1.5 MILLION.BLIZZARD'S RESIGNATION IS SUBJECT TO A SHORT TRANSITION PERIOD UNTIL HIS REPLACEMENT IS APPOINTED.WILL SUBMIT TO REVIEW BY AN INDEPENDENT CONSULTANT OF METAL ACCOUNTING WITH RESPECT TO REPORTING OF PRODUCTION, FINANCIAL ACCOUNTING.FOLLOWING INTERNAL REVIEW, COMPOSITION OF BOARD OF DIRECTORS WAS CHANGED TO INCLUDE THREE NEW DIRECTORS.IN SETTLEMENT, AGREES CO MISSTATED ITS FINANCIAL POSITION AND RESULTS OF ITS OPERATIONS.INTENDS TO ENTER INTO A MANAGEMENT AGREEMENT IN EARLY 2019 WITH ITS MAJORITY SHAREHOLDER, GLENCORE INTERNATIONAL AG.IN SETTLEMENT, AGREES IT FAILED TO DISCLOSE MATERIAL WEAKNESSES IN ITS INTERNAL CONTROLS."KATANGA BELIEVES THAT MANAGEMENT AGREEMENT WILL ALLOW OPERATIONS TO BE MANAGED MORE EFFECTIVELY".FAILED TO ADEQUATELY DESCRIBE HEIGHTENED RISKS ASSOCIATED WITH RELIANCE ON INDIVIDUALS, ENTITIES ASSOCIATED WITH DAN GERTLER.IN SETTLEMENT, AGREES IT FAILED TO MAINTAIN ADEQUATE DISCLOSURE CONTROLS, PROCEDURES, INTERNAL CONTROLS OVER FINANCIAL REPORTING.  Full Article

Glencore Revises 2018 Marketing Adj EBIT Guidance To $2.7 Bln ± $100 Mln
Monday, 3 Dec 2018 

Dec 3 (Reuters) - Glencore Plc ::TRADE/CHINA/MACRO FEARS HAVE IMPACTED FINANCIAL SENTIMENT.SECTOR REINVESTMENT REMAINS LIMITED, DEMAND IS SOLID, INVENTORIES ARE LOW AND LIKELY TO FALL FURTHER.2019 EQUITY CASH FLOWS, POST BASE DISTRIBUTION, CURRENTLY PRIORITIZED FOR BUYBACKS/DELEVERAGING.IN 2019 CONTINUED INVENTORY DRAW DOWNS ARE LIKELY.FOR KATANGA, 2019 COBALT PRODUCTION GUIDANCE CUT BY 8KT TO 26KT TO REFLECT COBALT PLANT RAMP UP, ASSOCIATED EXPECTED SHORTERTERM RECOVERIES.SEES GROUP COPPER PRODUCTION TO RISE 5 PERCENT BETWEEN 2018-2021.SEES GROUP COBALT PRODUCTION TO RISE 74 PERCENT BETWEEN 2018-2021.GLENCORE PLC SEES GROUP ZINC PRODUCTION TO RISE 28 PERCENT BETWEEN 2018-2021.GLENCORE PLC - 2018 MARKETING ADJUSTED EBIT GUIDANCE REVISED TO $2.7BN ± $100M.GLENCORE PLC SEES GROUP LEAD PRODUCTION TO RISE 30 PERCENT BETWEEN 2018-2021.GLENCORE PLC SEES GROUP COAL PRODUCTION TO RISE 10 PERCENT BETWEEN 2018-2021.GLENCORE PLC SEES 2019-2021 INDUSTRIAL TOTAL CAPEX AVERAGE OF C.$4.8 BILLION PER ANNUM.NOW SEES 2018 COPPER PRODUCTION 1465 KT ± 15 KT.NOW SEES 2018 COBALT PRODUCTION 39 KT ± 2 KT.NOW SEES 2018 ZINC PRODUCTION 1090 KT ± 15 KT.NOW SEES 2018 LEAD PRODUCTION 285 KT ± 5 KT.NOW SEES 2018 NICKEL PRODUCTION 126 KT ± 2 KT.NOW SEES 2018 FERROCHROME PRODUCTION 1600 KT ± 15 KT.NOW SEES 2018 COAL PRODUCTION 132 MT ± 2 MT.SEES 2019 GROUP COPPER PRODUCTION 1540 KT ± 45 KT.SEES 2019 COBALT PRODUCTION 57 KT ± 5 KT.SEES 2019 ZINC PRODUCTION 1195 KT ± 30 KT.SEES 2019 LEAD PRODUCTION 345 KT ± 10 KT.  Full Article

Glencore PLC Sees A 178 KT Primary Nickel Deficit For 2018
Thursday, 1 Nov 2018 

Nov 1 (Reuters) - Glencore PLC ::PROJECTS A 178 KT PRIMARY NICKEL DEFICIT FOR 2018.SEES NPI PRODUCTION IN INDONESIA AT 250-260KT IN 2018, 320-330KT IN 2019, AND 380-400KT IN 2020.INDONESIAN NPI SUPPLY ACCELERATES, BUT CHINESE NPI HAS UNDERPERFORMED YEAR-TO-DATE DUE TO ENVIRONMENTAL RESTRICTIONS."AS EVIDENCED BY SUBSTANTIAL INVESTORY DRAWS, NICKEL PRODUCERS ARE UNABLE TO SERVICE DEMAND"."DO NOT EXPECT MATERIAL NON-NICKEL PIG IRON SUPPLY GROWTH FROM MAIN ACTORS"."STRONG EXPECTATION THAT SIZEABLE DEFICITS WILL CONTINUE IN THE FUTURE EVEN AT/BELOW TREND GROWTH", REFERING TO NICKEL MARKET.  Full Article

Glencore PLC Says China Nickel Pig Iron Production Lower Than Expected At 475 KT For 2018
Thursday, 1 Nov 2018 

Nov 1 (Reuters) - Glencore PLC ::NICKEL PIG IRON PRODUCTION IN CHINA IS LOWER THAN EXPECTED AT 475 KT FOR 2018.  Full Article

Century Aluminum Company Reports Q3 2018 Results
Thursday, 25 Oct 2018 

Oct 25 (Reuters) - Century Aluminum Co ::MPANY REPORTS THIRD QUARTER 2018 RESULTS.Q3 ADJUSTED EARNINGS PER SHARE $0.02.Q3 LOSS PER SHARE $0.23.Q3 SALES $481.8 MILLION VERSUS I/B/E/S VIEW $476.7 MILLION.Q3 EARNINGS PER SHARE VIEW $0.00 -- THOMSON REUTERS I/B/E/S.  Full Article

Glencore CEO Tells Investors He’ll Retire in 3 to 5 Years- Bloomberg
Monday, 22 Oct 2018 

Oct 22 (Reuters) - Glencore PLC ::GLENCORE CEO TELLS INVESTORS HE'LL RETIRE IN 3 TO 5 YEARS- BLOOMBERG, CITING SOURCES.  Full Article

Glencore Says Martin Gilbert Resumes Position As Senior Independent Director
Wednesday, 10 Oct 2018 

Oct 10 (Reuters) - Glencore PLC ::BOARD UPDATE.MARTIN GILBERT HAS RESUMED HIS POSITION AS SENIOR INDEPENDENT DIRECTOR OF GLENCORE PLC WITH IMMEDIATE EFFECT..GILBERT RESUMES POSITION AFTER RESIGNATION YESTERDAY AS DEPUTY CHAIRMAN OF SKY PLC.  Full Article

ACCC Finalises Arbitration in Glencore-Port of Newcastle Dispute
Monday, 8 Oct 2018 

Oct 8 (Reuters) - Australian Competition & Consumer Commission: :FINALISED ARBITRATION OF A DISPUTE BETWEEN GLENCORE COAL ASSETS AUSTRALIA AND PORT OF NEWCASTLE OPERATIONS PTY LTD.DISPUTE WAS ABOUT TERMS AND CONDITIONS FOR ACCESSING THE 'DECLARED' SHIPPING CHANNEL SERVICE AT THE PORT OF NEWCASTLE.DETERMINED THAT PNO SHOULD REDUCE ITS CURRENT CHARGE FOR SHIPS ENTERING THE PORT TO CARRY GLENCORE’S COAL BY AROUND 20% TO $0.61/GT.  Full Article

Glencore Increases Buyback Programme By $1 Bln
Tuesday, 25 Sep 2018 

Sept 25 (Reuters) - Glencore PLC ::INCREASE AND EXTENSION OF SHARE BUY-BACK PROGRAMME.ANNOUNCES AN INCREASE IN SIZE OF BUYBACK PROGRAMME BY AN ADDITIONAL AMOUNT OF UP TO $1 BILLION.EXTENSION OF DURATION OF BUYBACK PROGRAMME UNTIL CLOSE OF DEALINGS ON 20 FEBRUARY 2019.  Full Article

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Explainer - Mexico's fuel woes rooted in chronic theft, troubled refineries

MEXICO CITY Nearly a month after Mexico's new president launched an ambitious plan to stamp out growing fuel theft, the strategy meant to crush corruption and organised crime is under heightened scrutiny.