Glencore plc
Glencore plc
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Glencore has awarded international contractor Wagners a 3-year contract worth about $A33M to load and haul zinc and lead concentrates from its McArthur River mine in Australia’s Northern Territory to the Bing Bong port facility and Mount Isa Mines in Queensland.
The company will transport up to 3Mt of materials in round-the-clock operations over the term of the contract.
CEO Cameron Coleman says the new contract extends Wagner’s long-standing relationship with Glencore.
Australia-based gold miner Evolution Mining is buying global resources company Glencore’s Ernest Henry copper-gold mine in Queensland, Australia, for $A1B.
Glencore will get $800M on closing, expected in early Jan 2022, and a further $200M 12-months after closure.
The deal gives Evolution full ownership and operational control of the mine, and it will also enter into a copper-concentrate offtake agreement and separate ore tolling agreement with Glencore.
Miner/trader Glencore expects FY/CY 2021 earnings before interest and tax for its trading division to top its $US2.2B-$3.2B long-term guidance, but is sticking to its production guidance, Reuters reports.
The company has reported a 9% drop in coal production for the 1st 9-months of the year due to its Prodeco mines in Colombia being suspended and lower domestic production in South Africa.
Diversified major global resource producer/marketer Glencore is selling its Bolivian zinc assets, Sinchi Wayra and Illapa, to Santa Cruz Silver Mining for $US110M via an initial $US20M on completion of the deal and a further $90M within 4-years or less of completion.
On completion, Glencore will enter into a number of net smelter royalty agreements, each at 1.5%, in respect of the Bolivian mining business with Santa Cruz and also retain life-of-mine off-take rights in respect of the production from these mines.
Talks between community representatives and copper mining companies have ended a protest and blockade that have threatened production from Glencore’s Antapaccay and MMG’s Las Bambas mines in southern Peru.
The talks followed the resignation of Peruvian Prime Minister Guido Bellido, Reuters reports. Bellido alienated some local leaders after a visit last month.
Reuters says the community accepted the new government ministers need time to get to know the realities of the communities.
Australia-based Hot Chili has concluded a $A40M, 3.2cps, raising, among other things, to pay the final $US15M for a 100% interest in the world-class Cortadera copper-gold discovery in Chile.
The fully underwritten $5M share purchase plan and $35M private placement has been corner-stoned by mining major Glencore, now Hot Chili’s largest shareholder with 9.99%.
Multi faceted major diversified natural resource company Glencore has turned a 1st half 2020 (H1 20) $US2,600M loss into H1 21 net income of $1,277M, on revenue up to $93,805M from $70,961M.
Adjusted EBITDA nearly doubled to $8,654M from $4,833M, with funds from operations the same to $7,310M from $3,686M and cash generated by operating activities before working capital changes up 66% to $7,181M.
Glencore, one of the world’s largest diversified natural resource companies, major producer and marketer, has had a pretty good June 2021 half (H1 21) with more ups than downs.
Key copper production rose 2% on H1 20 to 598,000t, zinc was 6% better to 581,800t, with cobalt up 3% to 14,800t, ferrochrome jumping 66% to 773t, while gold rose 3% to 423,000oz and silver 13% to 15.9Moz.
Major natural resources company Glencore has acquired a 9.99% stake in Western Australia-based Hot Chili for $A14.4M, providing strong support for the completion of a feasibility study and development of its flagship Costa Fuego copper-gold project in Chile.
Global trading house Glencore has teamed with Australian miner Fe, signing an exclusive $US7.5M prepayment and offtake agreement for life of mine lumps and fines production from its ramping JWD iron ore DSO project at Wiluna West in WA.
Under the agency-style agreement, Glencore will pay for purchases up-front and work together with Fe to optimise sales through its global distribution network as well as end-users known to Fe.