Glencore plc
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First Cobalt to finalize new supply deal with Glencore
First Cobalt is planning to alter its prior arrangement with global miner Glencore and sign a long-term feed purchase contract instead of the original tolling contract. First Cobalt currently owns North America’s only permitted cobalt refinery. Securing feed material under a long-term cobalt…
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COMMENTARY: Dominion Diamond latest to seek creditor protection
Blaming the COVID-19 pandemic, Dominion Diamond sought and was granted creditor protection last month. Mining was suspended in March due to requirements to limit the spread of the virus. Dominion is the 100% owner and operator of Canada’s first diamond…
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COPPER: Updated feasibility boosts economics for Copper Mountain’s Eva
VANCOUVER – Copper Mountain Mining has improved the economics of its Eva copper project in Queensland, Australia, with an updated feasibility study showing a longer mine life, increased production and lower cash costs. Compared with a feasibility completed in 2018,…
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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…
