Switzerland-based Glencore is a major producer/trader of commodities. Due to higher margins, most of its profits come from the production units and more specifically from copper and coal. The company has been increasing its exposure to metallurgical coal and this move has so far proved to be beneficial. While trading earnings are broadly stable, production earnings are highly volatile, as they ...
Shares of Santacruz Silver Mining Ltd (TSX-V:SCZ, OTC:SZSMF) rose 5% Tuesday after the company announced a second $7.5 million payment to Glencore under its accelerated plan to acquire a portfolio of Bolivian mining assets. The payment follows an initial $10 million instalment in March and is part of a structured deal aimed at completing $40 million in total payments by October 31.
Santacruz Silver Mining Ltd (TSX-V:SCZ, OTC:SZSMF) said Tuesday it has made a $7.5 million payment to Glencore as part of a structured plan to accelerate its acquisition of Bolivian mining assets and lock in cost savings. This marks the second installment under the company's previously announced Acceleration Option and follows an initial $10 million payment made on March 20.
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Glencore PLC (LSE:GLEN) shares fell over 4% on Wednesday as the miner and commodities trading giant delivered a disappointing first-quarter production update. Market prices for various commodities were also down on the day, with Brent crude oil down 1.7% to just over $62 a barrel, copper down 4%, gold down 0.9% and iron ore flat.
Die kanadische Bank RBC hat die Einstufung für Glencore JE00B4T3BW64 auf "Outperform" mit einem Kursziel von 420 Pence belassen.
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