https://www.scmp.com/rss/77161/feed Glencore International is the world's largest commodities trading company. It was formed in 1974 by a management buyout of Marc Rich & Co. In May 2013, it completed the US$29 billion acquisition of Xstrata to create the world's fourth-biggest mining company, with a market value of about US$68 billion. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Khushboo Razdan Khushboo Razdan A senior US official on Thursday defended Washington’s new critical minerals push, telling the South China Morning Post that supply chain diversification is a national security measure, not an attempt to form an exclusive bloc as Beijing has claimed. Deputy State Department spokeswoman Mignon Houston, speaking a day after the launch of the Forum on Resource Geostrategic Engagement, or Forge, described the US-led global coordination of strategic minerals as a “prudent step”. She sidestepped... https://www.scmp.com/news/us/article/3342574/us-defends-new-minerals-alliance-rejecting-claims-it-targets-china?utm_source=rss_feed https://www.scmp.com/news/us/article/3342574/us-defends-new-minerals-alliance-rejecting-claims-it-targets-china?utm_source=rss_feed Thu, 05 Feb 2026 23:15:54 +0000 Aileen Chuang Aileen Chuang Chinese aluminium smelter Chuangxin Industries Holdings aims to raise as much as HK$5.5 billion (US$707 million) in an initial public offering (IPO) that has already drawn commitments from 18 domestic and international investors, highlighting the strong appetite in Hong Kong’s buoyant fundraising market. Chuangxin planned to offer 500 million shares at HK$10.18 to HK$10.99 each, with 90 per cent allocated to institutional investors and the remainder to retail investors, according to its Hong... https://www.scmp.com/business/banking-finance/article/3332780/chinese-aluminium-smelter-rides-hong-kong-ipo-wave-us707-million-fundraising-drive?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3332780/chinese-aluminium-smelter-rides-hong-kong-ipo-wave-us707-million-fundraising-drive?utm_source=rss_feed Fri, 14 Nov 2025 07:05:06 +0000 Dario Pong Dario Pong As Hong Kong embarks on the exciting journey of building a commodities ecosystem, four key areas could help the city set the course. The task at hand is to explore real economy patterns to supplement the city’s financial plans. First, we must prioritise products. The commodities market covers multiple categories. However, I will only focus on the industrial metals subset. Here, Hong Kong would want to select highly liquid, high-impact products to make scaling up easier. Three major metals are... https://www.scmp.com/opinion/hong-kong-opinion/article/3331230/how-hong-kong-can-build-thriving-commodities-market-ecosystem?utm_source=rss_feed https://www.scmp.com/opinion/hong-kong-opinion/article/3331230/how-hong-kong-can-build-thriving-commodities-market-ecosystem?utm_source=rss_feed Tue, 04 Nov 2025 01:30:09 +0000 Shell said on Wednesday it has agreed to sell its refinery and petrochemical assets in Singapore – Asia’s main oil hub – to a joint venture between Indonesia’s Chandra Asri Capital and Glencore Asian Holdings. The transaction will transfer all of Shell’s interest in Shell Energy and Chemicals Park Singapore to the joint venture company CAPGC, Shell said in a statement. The companies did not provide a value for the deal. Subject to regulatory approval, the transaction is expected to complete by... https://www.scmp.com/news/asia/southeast-asia/article/3261855/oil-giant-shell-sells-singapore-refinery-it-built-bukom-island-over-60-years-ago?utm_source=rss_feed https://www.scmp.com/news/asia/southeast-asia/article/3261855/oil-giant-shell-sells-singapore-refinery-it-built-bukom-island-over-60-years-ago?utm_source=rss_feed Wed, 08 May 2024 07:25:31 +0000 China’s CMOC Group boosted its cobalt output by more than 170 per cent last year, with surging production at a new mine in the Democratic Republic of Congo helping the company leapfrog Glencore as the world’s top producer of the key battery metal. Hong Kong-listed CMOC produced 55,526 tonnes of cobalt in 2023, it said in a filing on Thursday. In October, Glencore forecast output of as much as 42,000 tonnes. While investors and traders had been expecting a large increase at CMOC’s massive Kisanfu... https://www.scmp.com/business/china-business/article/3247376/hong-kong-listed-chinese-miner-cmoc-takes-glencores-cobalt-crown-output-jumps-170-2023?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3247376/hong-kong-listed-chinese-miner-cmoc-takes-glencores-cobalt-crown-output-jumps-170-2023?utm_source=rss_feed Fri, 05 Jan 2024 05:24:51 +0000 Australian Prime Minister Anthony Albanese’s anticipated visit to Beijing later this year is expected to “demonstrate a full resumption between the two countries” after all trade barriers are settled, according to two sources with direct knowledge of the issue. To that end, the recently announced visit of Australian trade minister Don Farrell to Beijing “in the near future” aims to remove trade impediments. He accepted an invitation from China’s commerce minister, Wang Wentao, to continue the... https://www.scmp.com/economy/china-economy/article/3210066/china-australia-normal-trade-resumption-may-be-hand-what-still-stands-way?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3210066/china-australia-normal-trade-resumption-may-be-hand-what-still-stands-way?utm_source=rss_feed Mon, 13 Feb 2023 16:00:13 +0000 Coal companies operating in Australia are exporting coal with fraudulent quality certificates and paying cover-up bribes to representatives of overseas customers, a lawmaker told parliament citing thousands of documents from a whistle-blower. Independent MP Andrew Wilkie accused the companies of lying about the quality of their coal exports for years, and called for a parliamentary inquiry into the matter. He claimed the misconduct includes exports to Japan, South Korea, China and India, and... https://www.scmp.com/news/asia/australasia/article/3200483/australia-coal-exporters-china-accused-bribery-lying-about-quality?utm_source=rss_feed https://www.scmp.com/news/asia/australasia/article/3200483/australia-coal-exporters-china-accused-bribery-lying-about-quality?utm_source=rss_feed Tue, 22 Nov 2022 02:07:04 +0000 The hairpin curves and bumpy roads connecting the mining settlement Goro to the outside world slice through coral-fringed cliffs and forests lined with waterfalls and streams. Yet what makes this picturesque area noteworthy lies deep beneath its red earth: nickel, also known as green gold. Goro is in New Caledonia, a far-flung archipelago 900 miles east of Australia and home to just 272,000 people. But the French territory carries outsize influence, holding about 7.1 million tonnes of nickel – a... https://www.scmp.com/news/china/article/3192663/us-and-china-vie-pacific-influence-and-resources-tiny-new-caledonia-can?utm_source=rss_feed https://www.scmp.com/news/china/article/3192663/us-and-china-vie-pacific-influence-and-resources-tiny-new-caledonia-can?utm_source=rss_feed Thu, 15 Sep 2022 20:01:44 +0000 Congo’s military has deployed hundreds of soldiers to protect a major copper and cobalt mine owned by China Molybdenum from illegal miners, an army spokesman said on Wednesday. The Tenke Fungurume mine is one of the biggest in the Democratic Republic of Congo, which is Africa’s leading copper producer and the world’s top miner of cobalt, a key component in electric car batteries. Mining companies operating in Congo, which include Glencore, Ivanhoe and Barrick, routinely say the presence of... https://www.scmp.com/news/china/diplomacy/article/3015267/congo-sends-troops-guard-chinese-owned-copper-mine?utm_source=rss_feed https://www.scmp.com/news/china/diplomacy/article/3015267/congo-sends-troops-guard-chinese-owned-copper-mine?utm_source=rss_feed Wed, 19 Jun 2019 14:20:40 +0000 To mark the completion of its US$1 billion takeover of a Singaporean warehouse and delivery business, HNA Group chose to celebrate at a swanky hotel by the city’s Clifford Pier, the historic landing point for many seafaring immigrants, including those from the buyer’s home base of Hainan. The January cocktail reception for 300 guests could have been just another event in HNA’s schedule of frantic takeovers and global shopping spree, where it has lavished an estimated US$40 billion of... https://www.scmp.com/business/companies/article/2130727/hna-ditches-vanity-purchases-silk-road-commodity-deals-vie?utm_source=rss_feed https://www.scmp.com/business/companies/article/2130727/hna-ditches-vanity-purchases-silk-road-commodity-deals-vie?utm_source=rss_feed Sun, 28 Jan 2018 00:00:44 +0000 Mining and commodities trading firm Glencore on Wednesday announced it will issue up to 1.3 billion new ordinary shares to raise up to US$2.5 billion as part of efforts to pay down debt. The new issue will represent 9.99 per cent of the debt-ridden firm’s existing issued share capital, which will be immediately followed by an accelerated book building process to sell 78 per cent of the new shares. Glencore cuts forecasts on weak metals outlook The remaining 22 per cent will be sold to the senior... https://www.scmp.com/business/commodities/article/1858680/glencore-issue-13b-new-shares-pay-down-debt?utm_source=rss_feed https://www.scmp.com/business/commodities/article/1858680/glencore-issue-13b-new-shares-pay-down-debt?utm_source=rss_feed Wed, 16 Sep 2015 04:15:00 +0000 A group led by China Minmetals is nearing an agreement to purchase Glencore Xstrata's Las Bambas copper project in Peru for more than US$5 billion, according to people with knowledge of the matter. A deal between Minmetals, China's biggest state-owned metals trader, and Switzerland-based commodities producer and marketer Glencore could be announced as early as this month, subject to Beijing's approval, said the people, who asked not to be identified because the process is private. The asset... https://www.scmp.com/business/commodities/article/1423467/china-minmetals-near-us5b-deal-acquire-glencore-copper-mine?utm_source=rss_feed https://www.scmp.com/business/commodities/article/1423467/china-minmetals-near-us5b-deal-acquire-glencore-copper-mine?utm_source=rss_feed Fri, 07 Feb 2014 21:12:51 +0000 Glencore Xstrata and China's Australian Indigenous Resources have submitted proposals to Australia's Queensland government to develop the Aurukun bauxite project in the northeastern state. Queensland in April shortlisted a number of companies, including Rio Tinto, to develop the Aurukun resource after dropping a previous requirement to include a refinery. Aluminum Corp of China (Chalco) in 2010 ended an accord with the state government to develop the mine in the Cape York Peninsula after... https://www.scmp.com/business/commodities/article/1312615/miners-bid-develop-australian-bauxite-project?utm_source=rss_feed https://www.scmp.com/business/commodities/article/1312615/miners-bid-develop-australian-bauxite-project?utm_source=rss_feed Wed, 18 Sep 2013 16:00:00 +0000 Glencore Xstrata, the global commodity trader and metals producer run by Ivan Glasenberg, expects as many as four Chinese bidders for a Peruvian copper mine that may be valued at more than US$5 billion. "There are groups forming together and combining," the billionaire chief executive told reporters in London on Tuesday. "We see there will be at least three to four groups bidding. There is some other outside interest besides the Chinese consortiums." There are groups forming together and... https://www.scmp.com/business/companies/article/1308538/glencore-sees-china-firms-bidding-us5b-peru-copper-mine-las?utm_source=rss_feed https://www.scmp.com/business/companies/article/1308538/glencore-sees-china-firms-bidding-us5b-peru-copper-mine-las?utm_source=rss_feed Wed, 11 Sep 2013 16:00:00 +0000 Glencore will cut spending, shelve dozens of projects and squeeze more than expected from its record-breaking purchase of mining group Xstrata, lifting benefits from the deal to at least US$2 billion next year. Commodities trader Glencore has been at pains to defend its US$46 billion takeover of Xstrata, a blockbuster for the mining sector that came just as the commodities cycle turned. The increase in the deal’s headline benefits was expected, given Glencore’s conservative targets. But the... https://www.scmp.com/business/companies/article/1307464/glencore-squeezes-us2-billion-out-xstrata-deal?utm_source=rss_feed https://www.scmp.com/business/companies/article/1307464/glencore-squeezes-us2-billion-out-xstrata-deal?utm_source=rss_feed Tue, 10 Sep 2013 01:06:17 +0000 Glencore Xstrata will cut up to 920 jobs and take the axe to spending at its US$5.9 billion Tampakan copper-gold project in the Philippines, one of several future mines under review since the company was formed in a record-breaking takeover. Tampakan, a challenging project in a restive region of the southern Philippines, has not been officially put up for sale. But, like many of the big-ticket mining projects previously held by Xstrata, it is under review by its new owners and is one of four... https://www.scmp.com/business/commodities/article/1296515/glencore-cuts-budget-tampakan-copper-gold-mine-philippines?utm_source=rss_feed https://www.scmp.com/business/commodities/article/1296515/glencore-cuts-budget-tampakan-copper-gold-mine-philippines?utm_source=rss_feed Tue, 13 Aug 2013 16:00:00 +0000 Glencore Xstrata and JPMorgan Chase face a US lawsuit alleging they artificially inflated aluminium prices and disrupted supplies, as legal challenges related to metal warehousing piled up this week. The suit, filed in a district court in Florida this week, also named Goldman Sachs, the London Metal Exchange (LME) and subsidiaries of both JPMorgan and Goldman and accused the companies of antitrust practices and racketeering. It was the second suit since last Thursday and expanded the geography... https://www.scmp.com/business/banking-finance/article/1295230/glencore-jpmorgan-sued-over-warehouse-aluminium-prices?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/1295230/glencore-jpmorgan-sued-over-warehouse-aluminium-prices?utm_source=rss_feed Thu, 08 Aug 2013 04:33:52 +0000 New York’s financial regulator has asked 20 non-US reinsurers whether they conducted business with entities linked to Iran, as part of a review of these companies’ ability to comply with a new US sanctions law that becomes effective Monday. The New York’s Department of Financial Services wrote to the companies after learning that three insurers had issued coverage that applied to trades with Iran, according to a copy of the letter seen by Reuters. The three firms could not be identified. The... https://www.scmp.com/business/companies/article/1273790/ny-regulator-asks-foreign-reinsurers-about-iran-links?utm_source=rss_feed https://www.scmp.com/business/companies/article/1273790/ny-regulator-asks-foreign-reinsurers-about-iran-links?utm_source=rss_feed Tue, 02 Jul 2013 04:39:32 +0000 Miners Rio Tinto and Glencore Xstrata have held early-stage talks to consider a plan that could combine thermal coal assets in Australia as they battle low prices and high costs, two sources familiar with the plan said. Benchmark coal prices touched three-year lows last year and have languished below US$100 a tonne since May last year, even as labour and other costs soar in Australia. Both Rio and Glencore have large thermal coal mines in the Hunter Valley region of New South Wales. “It makes a... https://www.scmp.com/business/companies/article/1259869/rio-glencore-talks-over-australian-coal-assets-sources?utm_source=rss_feed https://www.scmp.com/business/companies/article/1259869/rio-glencore-talks-over-australian-coal-assets-sources?utm_source=rss_feed Thu, 13 Jun 2013 06:01:35 +0000 Australian coal miners are steeling themselves for years of production cuts, job reductions and asset sales as swelling shipments from international rivals lower hopes of a recovery in prices for coal. Prices have slumped around 30 per cent since their peak two years ago as coal flooded global markets, especially from the United States where cheap gas has cut domestic demand and led to a nearly 50 per cent jump in thermal coal exports last year. Even robust Chinese and Indian demand growth is... https://www.scmp.com/business/companies/article/1244894/australia-coal-firms-dig-years-mine-closures-job-cuts?utm_source=rss_feed https://www.scmp.com/business/companies/article/1244894/australia-coal-firms-dig-years-mine-closures-job-cuts?utm_source=rss_feed Fri, 24 May 2013 03:24:02 +0000 Glencore Xstrata's head of aluminium, Gary Fegel, is set to leave the company, sources said, the first high-profile departure since commodity trading giant Glencore closed its purchase of miner Xstrata this month. Fegel's departure from one of the most powerful jobs in the global aluminium market will come as a surprise to many since he was reconfirmed in the post just weeks ago, and aluminium is one of the few areas of Glencore's mining portfolio that has no overlap with Xstrata. The specific... https://www.scmp.com/business/companies/article/1243754/glencores-aluminium-chief-shock-exit?utm_source=rss_feed https://www.scmp.com/business/companies/article/1243754/glencores-aluminium-chief-shock-exit?utm_source=rss_feed Wed, 22 May 2013 16:00:00 +0000 John Bond, the chairman of Glencore Xstrata, the world's largest exporter of power-station coal, was deposed by his shareholders yesterday, with the former chief executive of BP, Tony Hayward, appointed as interim chairman in his place. Bond stepped down at the start of Glencore's annual meeting in Zug, Switzerland, saying he did not have enough support. Shareholders voted 80.85 per cent against his selection, Glencore said in a statement later. The company is seeking candidates and consulting... https://www.scmp.com/business/companies/article/1239325/glencore-shareholders-dump-chairman-bond?utm_source=rss_feed https://www.scmp.com/business/companies/article/1239325/glencore-shareholders-dump-chairman-bond?utm_source=rss_feed Thu, 16 May 2013 16:00:00 +0000 Budget filibuster efforts resume Lawmakers resume hostilities in a debate over the budget, with radicals promising to continue their filibuster unless the government pledges to implement a universal pension scheme. Members of People Power and the League of Social Democrats have tabled multiple amendments and say they will continue speaking to them unless the government changes its mind. A total of 710 amendments to the bill are to be debated.   Commission on Poverty meets The government body... https://www.scmp.com/comment/insight-opinion/article/1227784/talking-points?utm_source=rss_feed https://www.scmp.com/comment/insight-opinion/article/1227784/talking-points?utm_source=rss_feed Wed, 01 May 2013 16:00:00 +0000 Glencore International, seeking to buy Xstrata in a US$33 billion all-share bid, said adjusted profit for last year fell 25 per cent as slowing global growth eroded demand for the raw materials it produces and trades. Net income excluding significant items dropped to US$3.06 billion, the company said yesterday. Sales increased 15 per cent to US$214.4 billion while net debt climbed 19 per cent to US$15.4 billion. Glencore joins the biggest mining companies - BHP Billiton, Rio Tinto and Anglo... https://www.scmp.com/business/companies/article/1180827/sluggish-demand-raw-materials-drags-down-glencore-profit-25pc?utm_source=rss_feed https://www.scmp.com/business/companies/article/1180827/sluggish-demand-raw-materials-drags-down-glencore-profit-25pc?utm_source=rss_feed Tue, 05 Mar 2013 16:00:00 +0000 Korean rocket countdown … again South Korea's rocket scientists will be working out whether they should dare to launch the nation's first domestically produced rocket from the new Naro Space Centre off the southern tip of the Korean peninsula. A window of opportunity opens tomorrow. The rocket is due to deploy the STSAT-2C Science and Technology Satellite. The third attempt had been scheduled for October 26, but it was scrubbed at the last minute due to a fuel leak.   Marilyn Monroe stars in... https://www.scmp.com/comment/insight-opinion/article/1077334/talking-points?utm_source=rss_feed https://www.scmp.com/comment/insight-opinion/article/1077334/talking-points?utm_source=rss_feed Wed, 07 Nov 2012 16:00:00 +0000 Xstrata's board has recommended that shareholders back a US$33 billion sweetened takeover offer by Glencore International after gaining assurances on board composition and de-linking votes on the bid and bonus payments. Shareholders will be asked to consider two resolutions. One was to approve the takeover along with £144 million (HK$1.8 billion) of retention bonuses and a second excluded the pay question, Xstrata said yesterday. This meant the deal could proceed even if the incentive payments... https://www.scmp.com/business/companies/article/1051810/glencores-offer-gets-xstrata-board-nod?utm_source=rss_feed https://www.scmp.com/business/companies/article/1051810/glencores-offer-gets-xstrata-board-nod?utm_source=rss_feed Mon, 01 Oct 2012 16:00:00 +0000 Glencore International, the world's largest publicly traded commodities supplier, says its merger offer to swap each share of Xstrata that it does not already own for 3.05 Glencore shares will not be raised further. It also says Mick Davis, the current boss of Xstrata - a global metals miner - will become the chief executive of the combined group for up to only six months. After he steps down, he will be succeeded by Glencore chief executive Ivan Glasenberg. Switzerland-based Glencore has a 34... https://www.scmp.com/business/commodities/article/1033732/glencore-puts-its-cards-table?utm_source=rss_feed https://www.scmp.com/business/commodities/article/1033732/glencore-puts-its-cards-table?utm_source=rss_feed Mon, 10 Sep 2012 16:00:00 +0000 Ivan Glasenberg, Glencore International's billionaire chief executive, has a week to decide on his biggest bet yet - whether to raise his US$31 billion offer for Xstrata or see his five-year effort to create the fourth-biggest mining company disintegrate. Qatar's sovereign wealth fund, which has 12 per cent of Xstrata, ruled out accepting Glasenberg's current bid on Thursday. That means Glencore's takeover probably will fail unless Glasenberg raises the offer in time for a shareholder vote... https://www.scmp.com/business/commodities/article/1027297/glencore-has-week-decide-sweeter-offer-miner-xstrata?utm_source=rss_feed https://www.scmp.com/business/commodities/article/1027297/glencore-has-week-decide-sweeter-offer-miner-xstrata?utm_source=rss_feed Fri, 31 Aug 2012 16:00:00 +0000 Two Hong Kong social scientists claim a Human Rights Watch report had a political agenda in accusing Chinese-owned mining of having the worst safety records in Zambia. The independent global organisation labelled the Chinese mines 'bad employers' in terms of meagre pay, marathon working hours, poor safety records and lack of union rights. The China Non-Ferrous Metal Mining Co was singled out for particular criticism. However, Barry Sautman, a professor from the Hong Kong University of... https://www.scmp.com/article/993791/chinese-mines-unfairly-criticised-over-safety?utm_source=rss_feed https://www.scmp.com/article/993791/chinese-mines-unfairly-criticised-over-safety?utm_source=rss_feed Sun, 26 Feb 2012 16:00:00 +0000 Our editors will be looking ahead today to these developing stories ... South Korean president in energy talks South Korean President Lee Myung-bak will hold meetings with major crude suppliers Saudi Arabia, Qatar and the United Arab Emirates until Friday, as his country looks for alternatives to Iranian oil. Iran is facing toughened US sanctions that make it difficult for buyers to pay for the crude. The United States has pushed Asian countries to cut crude supplies from Iran in an attempt to... https://www.scmp.com/article/991945/talking-points?utm_source=rss_feed https://www.scmp.com/article/991945/talking-points?utm_source=rss_feed Mon, 06 Feb 2012 16:00:00 +0000 Commodities giant Glencore has attempted to shrug off fears of a slowdown in China and a commodities crash. As the London- and Hong Kong-listed mining company unveiled its first quarterly results as a public company, Glencore chief executive Ivan Glasenberg insisted that soaring mainland inflation would cause just a temporary pause in the bank lending and infrastructure investment that has powered China's massive resources consumption. 'The next three to six months could be difficult [in... https://www.scmp.com/article/970675/glencore-takes-inflation-stride?utm_source=rss_feed https://www.scmp.com/article/970675/glencore-takes-inflation-stride?utm_source=rss_feed Tue, 14 Jun 2011 16:00:00 +0000 Still waiting on judgement day at the coal face Will Clive Palmer's Resourcehouse IPO ever get across the starting line? It's taken several attempts to get there, but just when we thought everything was in place, the programme has been delayed again. But only for a few days we are told. So, the offer will now open on Monday, not today, and the final prospectus won't be available until Monday. The reason for the latest delay we are told is that the interest in the offer has been greater than... https://www.scmp.com/article/968825/lai-see?utm_source=rss_feed https://www.scmp.com/article/968825/lai-see?utm_source=rss_feed Wed, 25 May 2011 16:00:00 +0000 Reading comprehension Answer the following questions: 1 Which of the following do Glencore not deal in, according to the article? a. wheat b. zinc c. coal d. wood 2 According to the article, what are the other reasons for food price increases beside Glencore's speculative activities? a. growing global population and the rise of the middle class in India and on the mainland b. people are not willing to grow food c. the food is contaminated by radiation d. the food is organic and... https://www.scmp.com/article/968591/liberal-studies?utm_source=rss_feed https://www.scmp.com/article/968591/liberal-studies?utm_source=rss_feed Mon, 23 May 2011 16:00:00 +0000 People are literally queuing up to invest in Glencore - the world's largest supplier and trader of commodities such as rice, wheat, sugar and coal. It is offering its shares for sale to the public for the first time today on both the Hong Kong and London stock exchanges. However, the Swiss company has been criticised for its influence over global prices of food, fuel and other commodities as millions of poor people in the developing world struggle to cope with rising living costs. About US$11... https://www.scmp.com/article/968593/having-hand-food-prices?utm_source=rss_feed https://www.scmp.com/article/968593/having-hand-food-prices?utm_source=rss_feed Mon, 23 May 2011 16:00:00 +0000 Giant commodities trader Glencore does not cause hunger, claims Vidhan K Goyal, professor of finance at Hong Kong University of Science and Technology's Business School. The company, which launches the sale of its shares in Hong Kong and London today, has been criticised because of its influence on food and other commodities. Goyal said: 'There is no way that Glencore is able to dictate wheat's price unless it physically holds onto a huge amount of wheat, but there is no evidence for that.'... https://www.scmp.com/article/968592/glencore-not-culprit-behind-price-rises?utm_source=rss_feed https://www.scmp.com/article/968592/glencore-not-culprit-behind-price-rises?utm_source=rss_feed Mon, 23 May 2011 16:00:00 +0000 Commodity giant Glencore yesterday kicked off the Hong Kong leg of its HK$78 billion initial public offering with chief executive Ivan Glasenberg insisting he is untroubled by the plunge in commodity prices this month. He claimed the decline - which has seen the price of copper fall 10 per cent, wheat slide 14 per cent and oil slump 16 per cent - merely blows some of the speculative froth off the top of commodity markets. The falls do nothing to diminish Glencore's business prospects, argued... https://www.scmp.com/article/967596/upbeat-ipo-pitch-downplays-risks-run-commodity-trader?utm_source=rss_feed https://www.scmp.com/article/967596/upbeat-ipo-pitch-downplays-risks-run-commodity-trader?utm_source=rss_feed Thu, 12 May 2011 16:00:00 +0000 Commodities trader Glencore has denied accusations of illegally evading tax in Zambia. The Swiss-based supplier of commodities from copper to corn, which is set to raise US$7.9 billion in a London and Hong Kong initial public offering, also disclosed in its listing prospectus that it paid just over 5 per cent income tax last year. Last month, a coalition of NGOs filed a complaint to the Organisation for Economic Co-operation and Development accusing Glencore of tax evasion in the poor African... https://www.scmp.com/article/967598/glencore-denies-tax-evasion-over-mine-zambia?utm_source=rss_feed https://www.scmp.com/article/967598/glencore-denies-tax-evasion-over-mine-zambia?utm_source=rss_feed Thu, 12 May 2011 16:00:00 +0000 What? What is happening? A company called Glencore, the world's largest commodities trader, is planning a US$11 billion stock sale on the London and Hong Kong stock exchanges. Critics say some of the company's actions are behind rising food prices. Who? Who is Glencore? The firm is an energy, metals and food producer and marketer. It is worth US$60 billion. Although most of its money comes from mining, Glencore controls 10 per cent of the world's wheat production and almost a quarter of... https://www.scmp.com/article/967450/speculation-hunger?utm_source=rss_feed https://www.scmp.com/article/967450/speculation-hunger?utm_source=rss_feed Wed, 11 May 2011 16:00:00 +0000 If some of the smartest guys in the market are selling, investors should ask themselves whether this is really the best time to buy. After 36 years as a private company, commodity trading giant Glencore is going public with listings in London and Hong Kong. In what is set to become the biggest initial public offering of the year, the company is expected to raise as much as US$11 billion in a deal that will net its senior executives billions of US dollars each. With trading operations in... https://www.scmp.com/article/967018/nagging-doubt-behind-excitement-glencore-ipo?utm_source=rss_feed https://www.scmp.com/article/967018/nagging-doubt-behind-excitement-glencore-ipo?utm_source=rss_feed Thu, 05 May 2011 16:00:00 +0000 Simon Murray shows true grit and comes a tad unstuck Simon Murray (pictured) has been making headlines in the British press of the sort he would probably prefer not to. The former head of Hutchison Whampoa has been giving a round of newspaper interviews since his recent appointment as non-executive chairman of soon-to-be-listed commodities giant Glencore. Murray appears to have come unstuck in his chat with the Sunday Telegraph which reported his forthright views on a number of topics... https://www.scmp.com/article/966202/lai-see?utm_source=rss_feed https://www.scmp.com/article/966202/lai-see?utm_source=rss_feed Tue, 26 Apr 2011 16:00:00 +0000 Could old friends bring Glencore to Hong Kong? All this week Simon Murray, former boss of Hutchison Whampoa and adventurer extraordinaire, has been tipped as the leading contender for the chairmanship of commodities trading giant Glencore. But the eventual announcement went surprisingly unsmoothly with the BBC's business editor Robert Peston announcing that British peer John Browne was the anointed one. Everyone assumed he knew what he was talking about as Glencore's public relations was being... https://www.scmp.com/article/965259/lai-see?utm_source=rss_feed https://www.scmp.com/article/965259/lai-see?utm_source=rss_feed Fri, 15 Apr 2011 16:00:00 +0000 Gold miner Zijin Mining Group, which was embroiled in a major pollution incident last year, says its net profit rose 36 per cent, thanks to higher prices for the precious metal. The country's largest gold producer by output, which also mines copper, zinc and iron, expects its gold output to reach 29.76 tonnes this year, an increase of 2 per cent from 29.18 tonnes in 2010 but lower than the 30.65 tonnes in 2009. The production target set for copper is 87,800 tonnes, 2.8 per cent lower than last... https://www.scmp.com/article/963879/zijin-has-golden-year-despite-pollution-woes?utm_source=rss_feed https://www.scmp.com/article/963879/zijin-has-golden-year-despite-pollution-woes?utm_source=rss_feed Thu, 31 Mar 2011 16:00:00 +0000 Zhu Kuan Development, which started trading on the stock exchange yesterday, has emphasised that it always honours its debts, after an attempt was made to sabotage its trading debut. The red chip, issued at $1.13 a share, traded between $1.26 and $1.42 before closing at $1.29. It saw a turnover of 92.69 million shares worth $125.09 million. An anonymous letter sent to the media accused the company's parent - the Guangdong arm of the Zhu Kuan Group - of owing more than US$2.5 million to... https://www.scmp.com/article/242292/we-will-pay-our-debt-says-zhu-kuan?utm_source=rss_feed https://www.scmp.com/article/242292/we-will-pay-our-debt-says-zhu-kuan?utm_source=rss_feed Tue, 26 May 1998 16:00:00 +0000