Glencore has confirmed that David Wormsley will retire from its Board of Directors, effective December 31, 2024. Kalidas Madhavpeddi, Chairman of the Board, acknowledged Wormsley’s contributions, stating, “David has been an effective and thoughtful contributor to the work of Glencore’s Board of Directors. On behalf of the Board, I would like to thank him for...
READ MOREToronto-based metals recycling company Cyclic Materials Inc. has secured a multiyear agreement with Glencore PLC to supply copper extracted from electronic scrap. The Swiss-based mining giant will process the recycled copper at its Horne Smelter and Canadian Copper Refinery in Quebec, converting it into copper cathode for use in new products. The financial terms of...
READ MOREGlobal mining giant Glencore is tapping into a new quarry—not in the earth, but in America’s junk drawers, old phones, and landfills—in its bid to meet the surging demand for copper driven by the energy transition and data boom. Outside its 97-year-old copper smelter in Quebec, Canada, shredded electronics, obsolete computer cables, and scrapped vehicles...
READ MOREThe Saudi Export-Import Bank (Saudi EXIM) has signed a $300 million credit facility agreement with Glencore to support Saudi Arabia’s expanding mineral exports. The deal is part of efforts to boost Saudi non-oil exports by enabling the marketing of Saudi mineral products in over 156 global markets. The signing took place in Geneva, Switzerland, during...
READ MORESwiss resource giant Glencore reported a 4% year-on-year decline in copper production to 705,200 tons for the period from January to September 2024. The decrease was primarily attributed to the sale of its Cobar mine in Australia in June. Zinc production also fell by 4%, reaching 643,600 tons, mainly due to reduced output at the...
READ MOREEuro Sun Mining has signed a binding Memorandum of Understanding (MOU) with Glencore International, granting the multinational mining company the right of first refusal for future concentrate from Euro Sun’s Rovina Valley Project in Romania. This agreement also gives Glencore the right to nominate a director to Euro Sun’s board. The Rovina Valley Project, one...
READ MORELi-Cycle Holdings has strengthened its partnership with global commodities giant Glencore by finalizing a commercial agreement for the off-take of mixed hydroxide precipitate (MHP) produced at the Rochester Hub. This strategic deal ensures that Glencore will take 100% of the MHP output from the Rochester facility, which includes valuable metals like nickel and cobalt. The...
READ MOREGlencore has reiterated its full-year 2024 guidance, projecting Marketing Adjusted EBIT in the range of $3.0 billion to $3.5 billion, which remains around the top end of the company’s long-term guidance of $2.2 billion to $3.2 billion per year. Despite some production declines, the company remains confident in maintaining its projections for the year. Year-to-date...
READ MOREGlencore’s Antapaccay copper mine in Peru has reported significant improvements in copper recovery after upgrading its flotation cells. The mine, which produces approximately 160,000 tonnes of copper concentrate annually, partnered with Metso to enhance its flotation circuit and address existing inefficiencies. The Antapaccay flotation circuit, commissioned in 2012 and expanded in 2019, faced challenges such...
READ MOREHunter Environment Lobby (HEL) is claiming a rare win against mining giant Glencore after the company announced it was withdrawing its HVO Optimisation Project proposal from assessment by the federal environment department. HEL spokesperson Jan Davis expressed satisfaction, stating, “We are delighted that HVO has walked away without a fight, but we know they’ll be...
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