Glencore plc
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LEGAL ACTION: Glencore under CFTC investigation for possible violations
SWITZERLAND – Glencore has been informed by the United States Commodity Futures Trading Commission (CFTC) that the CFTC is investigating whether the company may have violated certain provisions of the Commodity Exchange Act and/or CFTC regulations. The CFTC’s investigations are at an…
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COPPER-GOLD: Goldcorp, Yamana, Glencore to pool assets in Argentina
ARGENTINA – Vancouver’s Goldcorp, Toronto’s Yamana Gold and Glencore International of Switzerland have struck a deal to develop and operate the Agua Rica copper project using the infrastructure of Minera Alumbrera in the Catamarca province. The partners expect to realize…
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IRON ORE: Black Iron inks MOU with Glencore on Shymanivske project
UKRAINE – Black Iron and Glencore are in talks to finance construction of the junior’s Shymanivske iron ore project and have signed a non-binding memorandum of understanding to begin formal negotiations on the financing and offtake package. The companies envision an investment…
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COPPER: Peru stops miners from exploring Rainbow Mountain tourist area
PERU – Clashes between tourism and mining are not rare in Peru, a country peppered with historic and touristic sites that’s also the world’s second-largest producer of copper, zinc and silver. But in the case of Rainbow Mountain, those in…
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Editorial: Kamoto halt highlights cobalt’s unpredictability
Anyone needing a reminder of the tenuousness of the global cobalt market – which plays a major role in underpinning the global boom in electric vehicles (EVs) – need only look at the stark news on Nov. 6 that Glencore’s…
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TRANSPARENCY: Glencore subpoenaed by U.S. Dept. of Justice
WASHINGTON, D.C. – The U.S. Department of Justice issued a subpoena on July 2, 2018, for a subsidiary of Glencore plc of Baar, Switzerland. The department is seeking documents and other records with respect to compliance with The Foreign Corrupt…
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STREAMING: Glencore teams with Teachers for new royalty company
SWITZERLAND and ONTARIO – After weeks of rumours, Glencore looks to be on verge of creating a new base metals royalty company, and the company has attracted the Ontario Teachers’ Pension Plan as a partner. The new firm will be…
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IRON ORE: Champion moves closer to Bloom Lake reopening
QUEBEC – Champion Iron of Montreal has moved another step closer to reopening the Bloom Lake iron ore mine with the non-brokered sale of a $31.2 million subordinated unsecured mandatory convertible debenture to Glencore International. The debenture will mature in…
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LEAD-ZINC: Trevali buys African property portfolio from Glencore
VANCOUVER – Trevali Mining Corp. has agreed to pay US$417.9 million for Glencore’s portfolio of zinc assets in Africa. The deal includes an 80% interest in the Rosh Pinah mine in Namibia, a 90% interest in the Perkoa mine in…
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IRON ORE: Champion arranges off-take, financing with Glencore for Bloom Lake
QUEBEC – Montreal’s Champion Iron has secured conditional financing of $31 million from Glencore International for its Bloom Lake iron ore mine reopening. As part of the deal, Champion and Glencore will enter into an off-take agreement with fixed terms…
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ZINC: Trevali to acquire Glencore’s zinc interests in Africa
AFRICA – Shareholders of Vancouver-based Trevali Mining Corp. approved the acquisition of interests in three African zinc properties from Glencore plc. The deal includes Glencore’s 80% interest in the Rosh Pinah mine in Namibia, a 39% interest in the Gergarub…
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Trevali CEO discusses Glencore deal, zinc markets
VANCOUVER — Trevali Mining (TSX: TV) is set to become a major player in the zinc business following an aggressive, $400-million deal with commodity giant Glencore (LON: GLEN). The company expects the transaction to make it the world’s eighth-largest producer of the industrial metal, and…
