Glencore PLC

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News

Russia's En+ to issue new shares for Glencore after IPO: prospectus

GLEN

It is not clear if, and to what extent, the issue of new shares may dilute existing shareholdings in En+. Details of how the transaction would be structured were not available in the IPO prospectus, obtained by Reuters, and En+ declined to comment. En+ declined to comment on both the deal with Glencore and the 6.9 percent stake that was transferred to Polina Deripaska. This month, 6.9 percent of En+ was transferred to Polina Deripaska, the document showed.

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No future(s): Asian financial coal trading dries up as Noble declines, Glencore rules

GLEN

Data from several exchanges shows that since its heyday in 2015, Asia coal futures trading activity has declined by over 90 percent. Many traders also see a link between declining Asian coal futures and the growing dominance of a single company in supplying physical Asian coal. "If you don't know what Glencore's mines are up to, it's very hard to trade Australian coal futures," said one trader with a large European utility. It's too risky," said a senior coal trader with a major commodity merchant, requesting anonymity.

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No future(s): Asian financial coal trading dries up as Noble declines, Glencore rules - The Times of India on Mobile

GLEN

Data from several exchanges shows that since its heyday in 2015, Asia coal futures trading activity has declined by over 90 percent. Asia gobbles up some 70 percent of all coal used for power generation, and the unprecedented demise of its futures market poses significant risks for utilities in particular. "There has been quite a bit of turmoil in the coal trading business," said Ben Tait, analyst at British energy consultancy Prospex Research. "Europe's API2 (coal futures market) remains liquid, but it does not move in parallel with physical coal we buy in Asia," Hall said.

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Glencore: Glencore announces US$1bn high grade deal - The Times of India on Mobile

GLEN

Glencore, rated Baa2/BBB, last came to market in March, when the company brought a US$1bn 10-year trade that priced at T+170bp. The company is approaching investors with a US$1bn deal split equally between five and 10-year tenors. But the market looks a little different this time around: low supply in the US high grade corporate market in recent weeks has made investors grab for each and every bond that comes to market. But capital allocation risk might now be on the rise - Glencore has signaled the possibilty of special dividends and is looking to expand its agricultural business through M&A, CreditSights analysts wrote in the report.

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Price

Glencore PLC (LON100:GLEN) price changed by -2.93% to 371.12

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Glencore gains approval to buy into Rusal's Ukrainian alumina plant

GLEN

The decision means Glencore can acquire shares in Aluminium of Ukraine and Guardon Ukraine, which own the Mykolaiv plant and are themselves controlled by Rusal, one of the world's largest aluminium producers. With annual output of 1.6 million tonnes, Mykolaiv is Ukraine's largest producer of alumina, used in aluminium production. Glencore has previously said it is particularly keen on assets relevant to the expected boom in electric vehicles, which could include aluminium. The Mykolaiv deal follows Wednesday's announcement that Glencore will convert its 8.75 percent stake in Rusal to shares in En+ Group, an aluminium and hydropower group controlled by tycoon Oleg Deripaska.

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Glencore says may raise stake in Rosneft in future

GLEN

Glencore says may raise stake in Rosneft in future. Glencore will retain the 0.5 percent stake in Rosneft after Chinese conglomerate CEFC buys a 14.16 percent stake in the company from a consortium of Glencore and the Qatar Investment Authority. Glencore will retain the 0.5 percent stake in Rosneft after Chinese conglomerate CEFC buys a 14.16 percent stake in the company from a consortium of Glencore and the Qatar Investment Authority. #Top News.

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Price

Glencore PLC (LON100:GLEN) price changed by -1.63% to 368.60

GLEN
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Glencore PLC (GLEN.L) Key Developments

GLEN

Glencore PLC (GLEN. L) Key Developments. ‍as consideration for subscription, Amokenga will transfer about 8.75% of total issued share capital of company to En+​. ‍En+ announced that En+ and Amokenga entered into a non-binding term sheet in relation to a possible share transfer​.

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reuters.com
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Glencore to Convert Rusal Holding into En+ Shares After London Listing

GLEN

Glencore to Convert Rusal Holding into En+ Shares After London Listing. Commodities company Glencore has an 8.8% shareholding in UC Rusal, which will be converted into global depositary receipts representing En+ shares, after their IPO. The transaction will also allow Glencore to appoint a representative to En+'s board of directors. En+ noted the conversion will take its own shareholding in Rusal to 57% from 48%.

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foxbusiness.com
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Glencore to swap Rusal stake for shares in Russia's En+

GLEN

En+ said the swap will occur after it completes its initial public offering, which is due later this year. Glencore will be entitled to appoint its chief executive to the board of directors of En+ after the share swap. Glencore will be entitled to appoint its chief executive to the board of directors of En+ after the share swap. The price and Glencore's stake in En+ have yet to be determined.

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BRIEF-Russia's En+ to covert Glencore's stake in Rusal into En+ GDRs

GLEN

* Upon completion of conversion, En+ Group's shareholding in Rusal would increase to 56.88 percent from 48.13 percent. * En+ Group signed non-binding term sheet with Amokenga Holdings Limited (AHL), a subsidiary of Glencore plc, for the conversion of Glencore's 8.75 percent shareholding in Rusal into global depositary receipts representing ordinary shares of En+ Group. * En+ is not required to make a mandatory takeover offer as a result of transaction. * En+ says ‍following completion of transaction, AHL would be entitled to appoint Glencore CEO to the board of directors of En+ Group.

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LiCo Energy Metals - Second Drill Rig Planned - Drilling Its Two Cobalt Properties (Teledyne and

GLEN

The Company is adding additional meterage to the diamond drilling programs than what was originally planned for the Glencore Bucke and Teledyne Properties. LiCo Energy Metals - Second Drill Rig Planned - Drilling Its Two Cobalt Properties (Teledyne and Glencore Bucke) Near Cobalt Ontario. The Company has an option to acquire a 100% interest, subject to a 3% NSR, on a large lithium exploration project at the Humboldt Salt Marsh in Dixie Valley, Nevada. The Company has an option to earn 100% ownership, subject to a royalty, in the Teledyne Project located near Cobalt.

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News

CEZinc Steelworkers in Australia to Build Labour Solidarity

GLEN

As negotiations with Noranda Income Fund remain at a standstill, the Quebec Steelworkers are building global solidarity with Glencore workers in several countries. QUEENSLAND, Australia, Oct. 17, 2017 /CNW/ - A delegation of Quebec Steelworkers representing striking employees at the CEZinc refinery in Salaberry-de-Valleyfield is in Australia building a solidarity campaign for workers under attack by multinational resource giant Glencore. SPoT Coffee Provides Operations and Franchise UpdatePR Newswire 17d. SPoT Coffee announces opening of SPoT Express cafe in Waterfront Village in Buffalo, provides updatePR Newswire 93d.

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Glencore, Qatar finalise Rosneft deal

GLEN

The deal leaves Glencore with 0.5% and Qatar’s fund with 4.8% in Russian oil company Rosneft. The deal leaves Glencore with 0.5% and Qatar’s fund with 4.8% in the Russian oil company. At the time, Rosneft chief Igor Sechin said the consortium had run into trouble with financing the major part of that stake. Rosneft sold the 19.5-per cent stake in late 2016 in a surprise deal as part of Russia's privatisation drive -- and as a way to prop up the Russian budget which had been hit by falling oil prices.

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