Streetbeat News

GLCNF

Glencore plc

https://www.glencore.com/

CEO

Ivan Glasenberg

Industry

Dimension Stone Mining and Quarrying

Open

4.74

Mkt cap

59B

Volume

200

High

4.82

P/E Ratio

-120.50

52-wk high

6.40

Low

4.74

Div yield

0.03

52-wk low

4.66

Glencore PLC plans to build a pilot EV battery recycling plant outside Italy and is considering Sardinia for a larger facility. The move aims for faster project commissioning and aligns with expected EU regulations on critical raw materials. Glencore's Sardinian unit communicated this in a letter to Italy's ministries. The company, in partnership with Li-Cycle Holdings Corp, previously announced a two-phase approach to the Portovesme Hub project. Glencore's copper production fell by 5% Y/Y due to asset sales and lower by-product production. Glencore's stock (GLCNF) closed down 1.83% at $5.64.

Portfolio Pulse from Lekha Gupta

November 24, 2023 | 12:34 pm

Glencore PLC has reported a decrease in its own sourced copper, zinc, and nickel production for the nine months ended FY23. The company has also cut its FY23 nickel production outlook and Ferrochrome outlook. Despite these reductions, Glencore expects its full-year 2023 Adjusted EBIT outcome to be above the top end of its long-term guidance range. The company's shares traded higher by 1.87% at $5.45 on Friday.

Portfolio Pulse from Lekha Gupta

October 30, 2023 | 5:16 pm

Marathon Oil Corp (MRO) has signed a five-year deal with Glencore PLC (GLCNF) to sell a portion of its natural gas produced from the Alba Field in Equatorial Guinea. The deal, which is effective from January 1, 2024, is linked to the Dutch Title Transfer Facility (TTF) index, less a fixed transportation fee. This offers Marathon Oil significant exposure to the European LNG market. MRO also plans to optimize its Equatorial Guinea integrated gas operations in 2024 by redirecting a portion of Alba Unit natural gas from the local methanol facility to the LNG facility.

Portfolio Pulse from Lekha Gupta

October 17, 2023 | 12:52 pm

Li-Cycle Holdings Corp (NYSE:LICY) and Glencore International AG, a subsidiary of Glencore plc (OTC:GLCNF), have announced plans to expedite the production of battery-grade lithium carbonate at the Portovesme Hub project in Italy. The project will be executed in two phases, with Phase 1 expected to start operations in 2024 and Phase 2 expected to begin commissioning in late 2026 to early 2027. The hub will process lithium-ion based black mass supplied from Li-Cycle's European Spoke recycling network and Glencore's commercial network.

Portfolio Pulse from Shivani Kumaresan

September 18, 2023 | 12:52 pm

PolyMet Mining Corp (PLM) has agreed to sell its remaining 17.8% of shares to Glencore PLC (GLCNF, GLNCY) for $2.11 per share, a 167% premium over PLM's share price as of June 30, 2023. The deal is expected to close in late Q3 or early Q4. Following the transaction, Glencore will hold 100% of PolyMet shares.

Portfolio Pulse from Lekha Gupta

July 17, 2023 | 1:51 pm

Glencore, Stellantis, and Volkswagen's PowerCo are expected to support a $1 billion mining deal in Brazil by SPAC ACG Acquisition company. The deal involves acquiring two mines, Atlantic Nickel and Mineraçao Vale Verde, which will be renamed ACG Electric Metals after the transaction. The mines will supply critical minerals to car manufacturers, strengthening the EV supply chain in Western countries.

Portfolio Pulse from Shivani Kumaresan

June 12, 2023 | 11:48 am

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