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LON100:GLEN, Mar 26, 11:18 UTC

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Sunday, March 24


News

BHP to Glencore Halt Output as Two Cyclones Batter Australia

GLEN BLT +1 more GLEN BLT RIO

Mar 24 2019, 6:19 AMMar 24 2019, 11:28 AMMarch 24 2019, 6:19 AMMarch 24 2019, 11:28 AM. (Bloomberg) -- Global miners BHP Group and Glencore Plc halted output at energy and metals operations as two cyclones hit Australia for the first time since 2015. BHP stopped output at the Pyrenees oil project off Western Australia as cyclone Veronica tracked toward a hub of liquefied natural gas and iron-ore export operations. All large commercial ships have also been cleared from the harbors and anchorages at Port Hedland and Ashburton, Pilbara Ports Authority said. While Barrick Gold Corp. is not expecting the operations of its joint venture with Newmont Mining Corp. near Kalgoorlie to be affected, it’s “taking precautionary measures just in case,” according to an email from Barrick spokeswoman Kathy du Plessis.

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Saturday, March 23


News

BHP And Glencore Said To Halt Output As Twin...

GLEN BLT +1 more GLEN BLT RIO

BHP And Glencore Said To Halt Output As Twin Cyclones Batter Australia. MELBOURNE (Alliance News) - BHP Group PLC and Glencore PLC were reported to have halted output at ... MELBOURNE (Alliance News) - BHP Group PLC and Glencore PLC were reported to have halted output at energy and metals operations across Australia as two severe cyclones simultaneously approached the coast for the first time since 2015. BHP stopped output at the Pyrenees oil project off Western Australia as cyclone Veronica tracked toward a hub of liquefied natural gas and iron-ore export operations. Ships left ports and workers fled the region ahead of forecasts destructive wind and heavy rain.

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News

BHP to Glencore Halt Output as Twin Cyclones Batter Australia

GLEN BLT +1 more GLEN BLT RIO

(Bloomberg) -- Global miners BHP Group and Glencore Plc halted output at energy and metals operations across Australia as two severe cyclones simultaneously approached the coast for the first time since 2015. BHP stopped output at the Pyrenees oil project off Western Australia as cyclone Veronica tracked toward a hub of liquefied natural gas and iron-ore export operations. All large commercial ships have also been cleared from the harbors and anchorages at Port Hedland and Ashburton, Pilbara Ports Authority said. While Barrick Gold Corp. is not expecting the operations of its joint venture with Newmont Mining Corp. near Kalgoorlie to be affected, it’s “taking precautionary measures just in case,” according to an email from Barrick spokeswoman Kathy du Plessis. Glencore has halted operations at its McArthur River zinc mine and Bing Bong port, and evacuated in preparation for the system. South32 Ltd. halted its GEMCO manganese operation on Groote Eylandt, off the Northern Territory coast in the Gulf of Carpentaria, and sent workers out of the area, the Perth-based miner said.

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Friday, March 22


News

Glencore suspends Australian zinc mine as cyclone nears

GLEN

(Reuters) - Commodity giant Glencore on Friday said it had suspended operations at its McArthur River zinc mine in northern Australia as a cyclone approaches. Authorities have declared a state of emergency in the region as Tropical Cyclone Trevor nears, with the nation's weather bureau on Friday saying the storm was intensifying and warning of a "severe impact" ahead of landfall on Saturday morning. "(The McArthur River mine) is preparing for Cyclone Trevor in line with our standard cyclone procedures," a Glencore spokesman said in a statement emailed to Reuters. That comes after commodity giant Rio Tinto on Wednesday suspended its Weipa bauxite mining operations at the northeastern tip of the country ahead of the cyclone.

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Wednesday, March 20


News

Small Australian copper producer makes $575 million offer for Glencore mine

GLEN

Visit our Privacy Policy to learn more or manage your personal preferences in our Cookie Consent Tool. (Reuters) - Small Australian copper producer Aeris Resources Ltd on Wednesday said it had offered to buy global trader and miner Glencore's CSA copper mine in the state of New South Wales for $575 million. The Queensland-headquartered Aeris, with a market value of A$78 million ($55.19 million), said the acquisition could be funded through a combination of debt, an equity capital raising and a so-called streaming agreement through which it would sell silver produced at the mine alongside copper to Glencore. "(Aeris) have a mine down the road, so as to that, it makes sense and the asset had been flagged for sale for a while," said an analyst in Sydney, declining to be identified as the deal has not been finalised.

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Tuesday, March 19


News

Two killed in accident at Glencore's Zambian mine

GLEN

Two killed in accident at Glencore's Zambian mine. LUSAKA, March 19 (Reuters) - Two workers died in an accident at Glencore's Zambian operation Mopani Copper Mines (MCM) on Tuesday, prompting it to suspend production pending investigations, the company said. "All operations at the South Ore Body (shaft) have been suspended until further notice," the company said in a statement without providing details of the accident. Mopani is one the biggest mining companies in Zambia -- Africa's No. 2 copper producer -- with output of about 100,000 tonnes a year. It was not immediately clear how much production would be lost during the suspension to production. (Reporting by Chris Mfula Editing by David Goodman). What to read next.

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Sunday, March 17


News

Indian antitrust watchdog raids Glencore business, others over pulse prices

GLEN

Indian antitrust watchdog raids Glencore business, others over pulse prices. NEW DELHI: India’s antitrust watchdog raided units of global commodities trader Glencore and two other firms in Mumbai, in an inquiry into alleged collusion on the price of pulses, four sources with knowledge of the raids told Reuters. The Competition Commission of India (CCI) has been investigating allegations that the companies formed a cartel to discuss the pricing of pulses while importing and selling them in the Indian market at higher prices in 2015 and 2016, when India faced an acute shortage, the sources said. Two years of drought pushed up prices of pulses such as chickpeas and black grams, which are a staple of Indian cuisine, in 2015 and forced New Delhi to offer duty-free imports, encouraging foreign and Indian traders who imported pulses to sell locally.

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Saturday, March 16


News

Exclusive: Indian antitrust watchdog raids Glencore business, others over pulse prices - sources

GLEN

Exclusive: Indian antitrust watchdog raids Glencore business, others over pulse prices - sources. NEW DELHI (Reuters) - India's antitrust watchdog raided units of global commodities trader Glencore and two other firms in Mumbai on Saturday in an inquiry into alleged collusion on the price of pulses, four sources with knowledge of the raids told Reuters. The Competition Commission of India (CCI) has been investigating allegations that the companies formed a cartel to discuss the pricing of pulses while importing and selling them in the Indian market at higher prices in 2015 and 2016, when India faced an acute shortage, the sources said. Two years of drought pushed up prices of pulses such as chickpeas and black grams, which are a staple of Indian cuisine, in 2015 and forced New Delhi to offer duty-free imports, encouraging foreign and Indian traders who imported pulses to sell locally.

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Friday, March 15


News

BRIEF-SA's Competition Tribunal Approves Glencore, Chevron Merger, With Conditions

GLEN CVX

SECTIONS. Home. Business. Markets. World. UK. Technology. Money. About Cookies On The Site. We use cookies to personalize and enhance your experience on our site. Visit our Privacy Policy to learn more or manage your personal preferences in our Cookie Consent Tool. By using our site, you agree to our use of cookies. BRIEF-SA's Competition Tribunal Approves Glencore, Chevron Merger, With Conditions. (Reuters) - SA's Competition Tribunal:. * APPROVES GLENCORE AND CHEVRON MERGER, WITH CONDITIONS. * APPROVED GLENCORE S. AFRICA, CHEVRON S. AFRICA MERGER SUBJECT TO EMPLOYMENT, PRODUCTION, INVESTMENT, PUBLIC INTEREST CONDITIONS Source text for Eikon: Further company coverage:.

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Wednesday, March 13


News

Standard Life Aberdeen share price edges higher, co-CEO Martin Gilbert steps down

GLEN SLA

Standard Life (SLA) saw its share price rise by more than 3% on Wednesday morning following its full-year results where co-CEO Martin Gilbert announced his resignation from his position, leaving Keith Skeoch alone at the helm. ‘In a tough year of continued change for our industry, we saw further net outflows - equivalent to about 7% of our starting assets,’ Gilbert said. SLA saw its total adjusted profit before tax slide by 1.5% to £650 million, down from £660 million in 2017, with the asset manager’s total adjusted earnings per share increasing slightly from 17.2p to 17.8p a share in 2018. The asset manager was able to show it had made significant progress with its £350 million cost-cutting regimw, with the company taking actions that will deliver £175 million in savings, with a further reduction in expenses of £56m achieved in 2018.

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