Category: Corporate News

Glencore Plc’s former chief executive officer and largest shareholder Ivan Glasenberg added to his stake for the first time in a decade after a share-price rout triggered by Donald Trump’s sweeping tariffs. Glasenberg’s shareholding in the miner and commodity trader rose to 1.219 billion shares — worth $3.7 billion at current prices according to a regulatory filing. That represents an increase of about 7.4 million shares from the level detailed in Glencore’s annual report last month. Disclosure was necessary because his stake rose above 10% of the outstanding stock. While… Read More Here

London-listed mining giant Glencore has declared force majeure on copper shipments from its Altonorte smelter in Chile, following a suspension of production at the facility, according to two industry sources. Force majeure is typically declared when unforeseen events prevent companies from meeting contractual obligations. The sources were unable to confirm how long operations at Altonorte, which has an annual capacity of 350,000 metric tons of copper in anode form, would remain halted. Glencore has yet to comment on the situation. Although Altonorte’s output represents only a small portion of global… Read More Here

Glencore Plc has suspended shipments from its Altonorte copper smelter in Chile due to a furnace malfunction, disrupting operations as traders and producers rush to supply more metal to the U.S. ahead of potential tariffs. The company has temporarily halted production and invoked force majeure clauses in its commercial contracts, sources familiar with the matter revealed. Force majeure provisions allow suppliers to suspend deliveries due to unforeseen circumstances beyond their control. This setback adds to a series of recent disruptions at smelters and refineries in Asia, further tightening global copper… Read More Here