Glencore plc
Glencore plc
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Communities and mining operations across the top of Australia are battening down as 2 cyclones gather strength and hit the Northern Territory, Queensland and Western Australia coasts from tomorrow morning.
Commodity giant Glencore has suspended operations at its McArthur River mine, one of the world's largest zinc-lead-silver mines in the Gulf of Carpentaria, 970km SE of Darwin, in the NT, with a state of emergency in the region declared as Cyclone Trevor approaches.
Copper miner Aeris Resources has confirmed it's in late-stage discussions to buy the CSA underground copper mine in Australia’s central New South Wales from global miner/trader Glencore for $US575M ($A812M) cash, shares and a royalty.
Australia-based Aeris Resources is in late stage discussions with Glencore to buy its CSA copper mine for $812M. By Mark Mentiplay
International miner Yamana Gold has reached agreement with its Alumbrera project partners Glencore and Goldcorp on the long-planned integration to facilitate the development and operation of its Agua Rica project in Argentina.
The agreement recognises the significant synergies of treating Agua Rica's 4.5Mt copper and 6.5Moz gold reserves using the existing infrastructure at neighbouring Alumbrera, where openpit mining ended in 2018.
World No 1 integrated miner-commodity trader Glencore has capped off the announcement of record profits by declaring its commitment to curtail future expansion of coal production to counter global warming.
CEO Ivan Glasenberg says, as one of the world’s largest diversified minders, Glencore has a key role in transitioning to a low-carbon economy.
He says Glencore’s coal production capacity will be limited to current levels and capital investment will be prioritised to commodities essential to the energy and mobility transition.
Australian gold and silver producer Evolution Mining has joined many companies operating in North Queensland in shrugging off the long-term impact of the region’s massive monsoonal rainstorms.
Evolution says the heavy rainfall and flooding caused temporary interruptions at its 100%-owned Mt Carlton operation 150km S of Townsville and Glencore’s Ernest Henry operation 35km NE of Cloncurry, in which it has production entitlements.
Swiss miner/global commodities trader Glencore has had a good Dec 2018 year (FY/CY18) with copper, cobalt, nickel and coal all up, zinc and ferrochrome steady, but oil down.
It’s been a good year for global miner/commodity trader Glencore with only oil letting it down
(COAL MINING)
Amid all the anti-mining activist claims of the death of coal, the push by Asian buyers for higher quality and lower emissions in its thermal and metallurgical coal imports represents more good news for Australian producers.
Continued strong performance from its Tier 1 NSW mines have seen dominant Australian coal producer Yancoal lift attributable FY2018 production to 32.9Mt, up from 31.45Mt in the previous year.
The Moolarben (85%-owned), Mount Thorley Warkworth (82.9%) and Hunter Valley Operations (51% JV with Glencore) contributed 84% of the total.