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Oil deals a focus of US investigation into Glencore

1-3-2019The DoJ subpoena arrived just weeks after Glencore settled a legal dispute over unpaid royalties with Dan Gertler a former business partner who has been sanctioned by the US for "opaque and corrupt oil and mining deals" in the DRC Get price


Glencore halts Zambia copper production after mine

Glencore has previously committed to expansive upgrade investments in its Zambia holdings The mining giant is currently working on sinking three new shafts investing US$1 1 billion to incorporate technology expected to extend mine life by 25 years Get price


Glencore's Australian arm moved billions through

5-11-2017Glencore operations in Newcastle Australia The Paradise Papers show that in 2013 two Bermuda-based arms of Glencore exchanged $25bn in Australian dollars to US dollars through Glencore Australia Investment Holdings Photograph Bloomberg via Getty Images Guardian design team The Australian arm ofGet price


Glencore shares jump on asset sales strong trading

4-11-2015LONDON/JOHANNESBURG (Reuters) - Mining and trading company Glencore said on Wednesday it was on track to reduce its debt thanks to asset sales and was making deeper cuts in copper output to support weak prices sending its shares 6 percent higher The stock ignored news from Zambia where PresidentGet price


Special report The biggest company you never heard of

25-2-2011Glencore is constantly cutting similar deals some of the biggest of which it already has in place with its Swiss neighbor and close affiliate Xstrata In the space of two weeks recently Glencore agreed offtake deals with London Mining for its Sierra Leone iron ore production and Mwana Africa for nickel output in Zimbabwe Get price


Glencore and the perils of riding the electric vehicle

Glencore's African copper-cobalt operations comprising Mutanda and Katanga in the Congo and Mopani in Zambia generated a $319m net loss in the first half of 2019 compared with a net profit of $817m in the same period of last year All three operations have been experiencing operational challenges Get price


Glencore resumes payments to dodgy Dan Gertler as it

21-6-2018Both Gertler and Glencore have consistently denied any wrongdoing in their business deals in Congo Notes to Editors Glencore and Dan Gertler were partners in mining ventures in Democratic Republic of Congo for a decade until Glencore bought out Gertler in a billion-dollar deal Get price


Glencore Energy wins $1 bln Zambia oil supply deal

London-based Glencore Energy has been awarded a $1 billion contract to supply 1 4 million tonnes of petroleum feedstock to Zambia over a two-year period the public procurement authority said on Tuesday Zambia is the continent's top producer of copper and uses diesel in miningGet price


Glencore court ruling in Zambia may trigger new pollution

18-9-2016The Swiss-based commodities and mining giant's headquarters in Baar Photograph Romina Amato/Reuters Toxic fumes from one of Glencore's copper plants in Zambia caused the death of a politician the African country's high court said in a ruling that could trigger fresh claims against theGet price


Glencore Umicore in long

The cobalt will be sourced from Glencore's mining operations KCC and Mutanda in the Democratic Republic of Congo Umicore has assessed each operation as fully compliant with its sustainable procurement framework for cobalt which excludes artisanally mined cobalt from its supply chain as well as any form of child labor Get price


Glencore′s closure of Congolese cobalt mine ′could

Cobalt — a byproduct of copper and nickel in mining activities — is an essential component in electric car and mobile phone batteries The metal was supposed to help Glencore the world's largest miner to ride the electro-mobility and smartphone boom Get price


Glencore and the Gatekeeper

16-5-2014In all Glencore advanced Gertler's offshore companies more than half a billion dollars and allowed him to make at least $67 million in risk-free profit our new research shows Global Witness's revelations detailed in its report "Glencore and the Gatekeeper" come as Gertler's deals Get price



22-5-2018Zambian copper does not figure in Swiss import statistics however which reflects the fact that the traded metal does not reach Swiss soil Commodity trading firms based in Zug and Geneva such as Trafigura Cargill Vitol Gunvor and Glencore and many others get their margin from buying and selling a variety of commodities Get price



That is how does it operate successfully in a seemingly dodgy country for mining investment? The primary outlet for the firm's political risk mitigation strategy is the country's added emphasis on social and labor issues Under Glencore Kazzinc has absorbed many of the Soviet-era social expectations of a mining operation Get price


Glencore's Zambian mine slashes 3 800 jobs

23-9-2015Swiss mining giant Glencore hard hit by collapsing commodity prices has notified the Zambian government that its Mopani copper mine will lay off nearly 3 800 workers Labour minister Fackson Shamenda on Wednesday said that Glencore subsidiary Mopani Copper Mines cited low copper prices and powerGet price


Zambia asks Glencore unit for underpaid taxes

6-6-2011LUSAKA (Reuters) - Zambia has asked commodity trader Glencore's (GLEN L) Mopani Copper Mines for unpaid taxes after an audit of the subsidiary leaked earlier this year said it had underpaid mining dues the country's finance minister said But Zambia is leaving the door open for a deal Get price


Miningpanies In Iraq

coal mining equipments dealer iran coal mining scrapper feeder coal mining equipments dealer iran grinding mill china china surface grinding machine m7150 table size 500x2000mm Open Mining Equipment Manufacturers India Photos Vikay Mining Equipments is a Global Started Operation at Coal Openpin Growth Momentum in Mining Get price



7-2-2017ZCCM-IH plans to hit out at Glencore The board of the holding company is working on a court action against its partner in the Mopani mine As Africa Mining Intelligence anticipated would be the case ( AMI 380 ) Zambia Consolidated Copper Mines - Investment Holdings (ZCCM-IH) is planning to file arbitration proceedings against Glencore Get price


Glencore denies allegations over copper mine tax

16-4-2011We suggest the ZRA [Zambian Revenue Authority] does a new tax assessment based on the results of the audit the report claims Glencore which is preparing a 37bn listing on the London stock market the capital's biggest ever flotation said the auditors had failed to factor in rising fuel and labour costs over the period Get price


Zambia Flashcards

The government oredered a revision of tax laws with the help of experts financed by the Norwegian government It cancelled the conditions in the original sales agreement and mining companies threaten to go to international courts as the high tax rate would have put the companies out of business Get price


Mining Companies in Zambia

Tracking and reporting on mining projects in Zambia is part of the mining intelligence service available to subscribers With Africa Mining IQ those interested in mining companies in Zambia have a tangible resource which allows them to keep up-to-date with all projects Get price


EIB halts Glencore lending on governance concerns

1-6-2011LONDON/BRUSSELS (Reuters) - The European Investment Bank has frozen all new loans to commodities trader Glencore (GLEN L) and its subsidiaries it said in a statement citing "serious concerns" over the group's corporate governance The EIB Get price



8-2-2012Glencore-Xstrata deal unsettles Swiss left wing 4 Min Read * Biggest ever merger deal in mining sector * Underscores clout of commodities trading in Switzerland Glencore has come under increased scrutiny from environmental and corruption campaigners for its involvement in mining operations in countries from Zambia to Colombia Get price


Glencore Reaches Zambia Power Deal After President Steps

30-8-2017Glencore Plc's Zambian copper unit reached a deal to resume full power supply to its operations after President Edgar Lungu met with senior company officials according to his office Copperbelt Energy Corp will restore power to Glencore's Get price


Vedanta's Agarwal is prepared to invest in Zambia

Agarwal said "the current position" of the Zambian government would harm the country's "investor-friendly status" and he said a lot of mining companies were considering leaving Zambia Other miners present in Zambia include Glencore and First Quantum Get price


Hammer nails Glencore JV

17-8-2017ASX-listed junior Hammer Metals has acquired fellow-listed AuKing Mining's stake in tenements in Mount Isa forming a new joint venture (JV) with major Glencore Hammer and AuKing in December of last year struck a deal under which Hammer would pay 1 5-million shares for a number of tenement holdings held by AuKing including a 51% Get price



Glencore and Gertler were held up in a legal tangle threatening the strategic supply of the metals as well as ownership of the mining entities Glencore paid the royalties in a currency other than dollars to skirt sanctions and discussed the deal with Swiss and U S authorities Get price


Profile Glencore in Zambia

Glencore is the world's biggest commodities brokerage firm Reuters called it "the biggest company you have never heard of" after it went to public offering at the London Stock exchange in 2011 It controls more than half the international tradable market in zinc and copper and about a third of the world's seaborne coal according []Get price


Unions take action against Glencore ahead of investor

14-12-2017Unions take action against Glencore ahead of investor call Add to favourites The Mine Workers' Union of Zambia took action to expose Glencore's attempts to cut costs by casualizing the workforce and the company intends to tie in deals with major auto and electronics manufacturers – including Volkswagen Get price


Glencore Zambian Move to Halt 26% of Country's

7-9-2015Glencore Plc's decision to suspend production at units in the Democratic Republic of the Congo and Zambia will halt about a quarter of the countries' copper output and confront their governments with the potential of job losses a year before elections analysts said Get price


Glencore Xstrata announce $61 9 billion all

7-2-2012While the merger would create a commodities giant Australian mining giant BHP Billiton would remain the largest competitor he added But the merger could change the mining industry landscape in Africa Xstrata has a heavy presence in South Africa while Glencore is active in Zambia and the Democratic Republic of Congo Get price



22-5-2018Zambian copper does not figure in Swiss import statistics however which reflects the fact that the traded metal does not reach Swiss soil Commodity trading firms based in Zug and Geneva such as Trafigura Cargill Vitol Gunvor and Glencore and many others get their margin from buying and selling a variety of commodities Get price


Zambia's chamber of mines sees 21 000 job cuts due to

11-12-2018Mining accounts for more than 70 percent of Zambia's foreign exchange earnings and companies operating in the southern African nation include First Quantum Minerals Barrick Gold Corp Glencore and Vedanta Resources Zambia has said it is committed to improving the transparency of its debt management and will ensure that debt levels remain Get price

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