Glencore Stock News

Teck Resources Ltd (TSX:TECK.B)'s sale of its interest in EVR to Glencore marks its shift into a pure-play base metals miner, boosting its balance sheet strength and potential for capital returns, according to analysts who also see potential undervaluation in its shares. The move also positions the company favorably in terms of its organic growth pipeline, according to analysts.

A majority of Glencore investors have indicated they were satisfied with the commodities giant's plans to reduce carbon emissions, just as it gets closer to completing its acquisition of Teck Resources' steelmaking coal business.

Australia's northeastern state of Queensland has blocked a carbon capture and storage project proposed by commodities giant Glencore as it could irreversibly harm groundwater used by farmers, the state government said on Friday.

Australia's Queensland state will decide this month whether to give Glencore a key approval to bury liquefied carbon dioxide in the country's largest aquifer, a plan farm groups say must be blocked because it risks poisoning water supplies.

Glencore plc shares have rebounded since the pandemic low, showing a bullish trend supported by rising commodity prices. Glencore's diversified commodity portfolio and rising commodity prices are bullish for the company's shares.

Shell said on Wednesday it has agreed to sell its refinery and petrochemical assets in Singapore to a joint venture between Indonesia's Chandra Asri Capital and Glencore Asian Holdings.

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A consortium that includes Swiss miner and commodities trader Glencore and Indonesia's PT Chandra Asri Pacific is in advanced talks to buy Shell's oil refinery and petrochemical units in Singapore, in a deal that could be worth about $1 billion, Bloomberg News reported on Friday.