Glencore’s profit soars on commodities rebound

Miner and commodities trader Glencore (LON:GLEN) became Thursday the latest company to prove the mining industry is coming back up from one of the sector’s most severe downturns by posting a 48% increase in 2016 profits. A surge in commodity prices combined with Glencore’s multibillion-dollar asset fire-sale not only helped it swing back to profit, but also to[…]

DRC says Ok for Glencore to take full control of Mutanda copper mine

The Democratic Republic of Congo won’t stand in the way of Glencore’s (LON:GLEN) plans to increase its stake in the Mutanda copper mine, an asset it jointly owns with billionaire mining tycoon Dan Gertler. Mines Minister Martin Kabwelulu told Bloomberg he “didn’t believe” the government needed to authorize changes in ownership in that project, marking[…]

Glencore may take full control of Mutanda copper mine

Miner and commodities trader Glencore (LON:GLEN) is mulling to hike its stake in the Mutanda mine in the Democratic Republic of Congo, a copper asset it jointly owns with billionaire mining tycoon Dan Gertler. The Swiss firm, which already owns 69% of the mine, confirmed Thursday it was studying strategic options for the venture, adding it would make[…]

Glencore did better as commodity trader than miner in Q3

Miner and commodities trader Glencore (LON:GLEN) reported Thursday a drop in output for most of the commodities it mines and sells, on the back of ongoing asset disposals, cutbacks at its operations, and bad weather. Glencore now expects slightly better earning before interest for the year —  $2.5 billion to $2.7 billion, versus the  $2.4 billion to $2.7[…]

Activists urge Congo government to pass new mining code

Activists in the Democratic Republic of Congo are pressing the government to revive plans for a new mining code, claiming the country, which is Africa’s top copper producer and the world’s largest source of cobalt, needs the higher revenues a revised legislation would generate. Congo began reviewing the 2002 mining code in 2012 and last[…]

Here is why the mining sector in sub-Saharan Africa is not ready to shine

Despite optimism brought by the ongoing recovery in commodity prices and the mining potential of sub-Saharan Africa, operational challenges and regulatory uncertainty in the region will keep a lead on its resources sector until at least 2020, a new report shows. According BMI Research’s latest outlook for the region, risks such as disruption sin the[…]