Rio Tinto share price rockets following Glencore rejection October 7, 2014 Rio Tinto's share price peaked at £31.46 today, up by more than six per cent from yesterday. The rise followed news that Glencore was discussing a possible merger between the two mining companies with Rio Tinto's largest shareholder, the Chinese state-backed Aluminium Corp. Earlier, Rio Tinto had released a statement confirming that “no [...]
Rio Tinto rejects Glencore’s £60bn mega-merger bid October 6, 2014 Merger would create world’s biggest mining group Giant mining group Rio Tinto last night revealed it had firmly rejected an approach from Glencore, in the opening salvo of a new mega-merger bid in the sector. The estimated £60bn offer would have created a £100bn titan by market capitalisation, with the combined group leapfrogging BHP Billiton [...]
London Mining and Glencore share prices hit by dispute over contract payment September 22, 2014 London Mining has accused Glencore of non-payment of an iron ore contract between the two mining firms, hitting shares in both companies hard yesterday. Shares in Aim-listed London Mining plummeted over 10 per cent yesterday to close at an all-time low of 23.25p, while giant mining company Glencore saw its shares fall nearly five per [...]
Glencore share price rises as mining giant gives $1bn buyback to shareholders August 20, 2014 Mining and commodities giant Glencore kept to its commitment to reward shareholders as it announced a $1bn share buyback yesterday, with shares rising on the news and strong first-half results that saw its profits rise above expectations. The Switzerland based firm, founded in 1974, saw its underlying profit rise by eight per cent to [...]
Glencore reveals $1bn share buyback as earnings increase 8pc August 20, 2014 Glencore has revealed an eight per cent increase in adjusted earnings alongside plans to pay out up to $1bn of cash to shareholders through a share buyback programme. The news means Glencore will return capital to investors before mining competitors BHP Billiton and Rio Tinto, with the company saying the buyback will run to March [...]
Glencore share price slides after a mixed first-half output report August 13, 2014 Commodities powerhouse Glencore saw its share price slump over three per cent yesterday on a mixed half-year production report. The integrated miner trader said production of copper – the metal it makes almost half its profit from – rose 13 per cent to 741,000 tonnes. But the FTSE 100 company, which completed a $40bn (£23.9bn) merger [...]
End of an era as Glencore names Patrice Merrin as first female director June 26, 2014 The last bastion of male-only boards at a blue-chip company fell yesterday when Glencore Xstrata appointed Patrice Merrin as its first female director. The Anglo-Swiss mining and trading giant had come under heavy criticism from the government, its shareholders and Club 30% – which aims to get FTSE 100 boards to be made up [...]
Glencore share price higher as miner’s appointment frees FTSE 100 of all-male boards June 26, 2014 Miner Glencore Xstrata has finally appointed a woman to its board of directors, and investors seem to like the news. Shares moved around one per cent higher in early trading as the miner finally responded to pressure, adding mining veteran Patrice Merrin to its board with immediate effect. Merrin brings with her a wealth of [...]
Glencore avoids investor revolt and vows to hire female director May 20, 2014 MINER-TRADER Glencore Xstrata saw off a protest vote at its annual shareholder meeting yesterday, with a pledge to hire a female board member by the end of the year. Glencore is the last FTSE 100 company with an all-male board, attracting criticism from major shareholders. Yesterday business secretary Vince Cable said the firm has “consistently [...]
Glencore’s plan to appoint new female director comes too late May 19, 2014 GLENCORE Xstrata is set for a shareholder attack at today’s annual meeting, as it remains the only FTSE 100 company without a woman on its board. A number of major institutional investors are expected to oppose the miner trader’s annual report. Earlier this month, the Local Authority Pension Fund Forum, which represents 60 UK public [...]
