Global commodities traders Vitol and Glencore are expected to make formal bids for Chevron's 50% stake in Singapore's second-largest refinery, five people familiar with the matter said.
Glencore plc raised long-term Marketing Adjusted EBIT guidance to $2.3–$3.5bn, reflecting core business growth and the Viterra sale. A $1bn buyback is underway, supported by Bunge share monetization and $4bn spot free cash flow, emphasizing strong shareholder returns. A $1bn recurring cost-saving plan is in motion, with over 50% targeted by end-2025, streamlining operations and enhancing efficiency.
Santacruz Silver Mining Ltd (TSX-V:SCZ, OTC:SZSMF) announced that it has successfully completed its fourth and fifth payments, including the final installment, totaling US$15 million, to Glencore. The exploration and properties development company said the milestone marks the full satisfaction of the US$40 million Acceleration Option and completes the Base Purchase Price for the acquisition of its Bolivian assets, underscoring a significant step forward in its growth strategy.
Glencore said on Monday that a retrenchment process has been initiated at its joint-venture Rustenburg ferrochrome smelter and vanadium operations in South Africa as significant economic pressures continue to impact the businesses.
US Gold Corp (NASDAQ:USAU) said on Thursday it will adopt Glencore Technology's Jameson Cell flotation equipment at its CK Gold Project in Wyoming, a move it expects will enhance gold and copper recovery and improve project economics. The decision follows a series of engineering and trade-off studies as part of the company's definitive feasibility study and execution plan.
Excellon Resources Inc (TSX:EXN, OTCQB:EXNRF) told investors it has now closed an offtake and financing agreement with Glencore subsidiaries to support the restart of the Mallay silver mine in Peru. The Glencore facility provides up to US$7.5 million in the form of a pre-export finance loan, comprising an initial drawdown of up to US$5 million, and an optional US$2.5 million available until March 2026.
Glencore plc (OTCPK:GLCNF) Q2 2025 Earnings Conference Call August 6, 2025 3:00 AM ET Company Participants Gary Nagle - CEO & Director Martin Fewings - Head of Investor Relations & Communications Steven Kalmin - Chief Financial Officer Xavier Wagner - Chief Operating Officer Conference Call Participants Alain Gabriel - Morgan Stanley, Research Division Benjamin James Davis - RBC Capital Markets, Research Division Christopher LaFemina - Jefferies LLC, Research Division Daniel Edward Major - UBS Investment Bank, Research Division Dominic O'Kane - JPMorgan Chase & Co, Research Division Ephrem Ravi - Citigroup Inc., Research Division Izak Jan Rossouw - Barclays Bank PLC, Research Division Jason Robert Fairclough - BofA Securities, Research Division Liam Fitzpatrick - Deutsche Bank AG, Research Division Matthew Greene - Goldman Sachs Group, Inc., Research Division Myles Allsop - UBS Investment Bank, Research Division Richard James Hatch - Joh. Berenberg, Gossler & Co. KG, Research Division Robert Alan Brackett - Sanford C.
Glencore PLC (LSE:GLEN) shares were one of the biggest fallers on the FTSE 100, down almost 4%, after the commodities trading giant's half-year results disappointed and it confirmed that it does not plan to shift its main listing from London to New York. Chief executive Gary Nagle committed to the group keeping its LSE listing, saying "London is where we are happy.
Glencore PLC reported first-half profits below expectations despite stronger-than-forecast revenues, due to weaker coal pricing and lower copper production. The commodity trading and mining giant revealed revenue of $117.4 billion for the first six months of 2025, exceeding market expectations of $104.92 billion.
Shares in the FTSE 100's mining contingent, led by Glencore PLC (LSE:GLEN) and Rio Tinto Ltd (LSE:RIO, ASX:RIO, OTC:RTNTF), dropped sharply as copper prices dropped on Donald Trump's plans for 50% tariffs. The US President confirmed that refined metal, including copper ore and concentrate, will be excluded from new US tariffs on the metal that take effect on Friday.
There was more to the share price rises in mining giants Rio Tinto Ltd (LSE:RIO) and Anglo American PLC (LSE:AAL) than just copper, analysts said on Thursday. Copper prices surged this week after former US President Donald Trump proposed a 50% import tariff, but markets had already priced in most of the risk, according to Panmure Liberum analyst Tom Price.
FTSE mining giants Anglo American PLC (LSE:AAL), Rio Tinto Ltd (LSE:RIO), Glencore PLC (LSE:GLEN) and Antofagasta PLC (LSE:ANTO) rebounded on Thursday morning, as copper prices rose and Donald Trump firmed up his plans for a 50% copper tariff. The sector has seen falls across the board the day before, after the US President first floated the copper tariff idea.