Latest news with #Glencore
The Citizen
13 hours ago
- Business
- The Citizen
VIDEO: Pro-Palestine protests outside Glencore's offices
Coordinated actions erupted around the world, including South Africa On the 28 May 2025 Glencore, the world's largest mining conglomerate, hosted its Annual General Meeting (AGM) in Switzerland. Coordinated actions erupted around the world including South Africa, Colombia, Peru, Germany, and Switzerland, organised by the global Resist Glencore Network and the Global Energy Embargo Campaign. In South Africa, the South African BDS Coalition Energy Embargo Campaign, made up of Palestine solidarity groups, environmental justice organisations, trade unions, mining affected communities and many other activists protested at the Glencore headquarters in Johannesburg and other areas across the country. ALSO READ: PICTURES: Colourful Hillbrow parade entertains Joburg residents
Scoop
20 hours ago
- Politics
- Scoop
The 600th Day Of Genocide Is No Time For Words!
In the 86th week of genocide, 24 countries have objected to Israel's escalating violence. They call for the restoration of real, sufficient, life-saving aid to which Palestinians have a right – not the mercenary coverlet which would enable Netanyahu's final solution. After 62,000 Palestinian deaths, according to a UN press release on 19 May, Israel is inflicting conditions of life on Palestinians increasingly incompatible with their continued existence in Gaza as a group. Furthermore, the pattern of strikes on Internally Displaced People's (IDP) tents and residential buildings, as well as on crowded hospitals, indicates that little, if any, care is being taken to protect the lives of civilians in Gaza, while reports of the use of weapons with wide area effects suggest deliberate, indiscriminate attacks. Meanwhile, the humanitarian situation is beyond description. Make no mistake: Our governments have always held the power to end this onslaught. But our states are speaking fine words while they arm and normalise Israel's crimes. Every day that they delay, Israel kills another 35 children. Foreign ministers of Iceland, Ireland, Luxembourg, Norway, Slovenia, and Spain have expressed grave concern, but not so grave as to discontinue Israel's participation in 'security' programmes under the EU-Israel Cooperation Agreement. And, heaven forbid, not so grave as to eject Israel from the Eurovision song contest. A joint statement by UK, France, and Canada on 19 May vowed, 'We will not stand by while the Netanyahu Government pursues these egregious actions.' They have stood by for another week since then. Another 629 Gazan Palestinians including nine journalists have been killed. Gazans are obtaining, on average, 67% of the calories they need to survive while the UK, France and Canada continue to stand by. Even in South Africa, Glencore continues to send coal to Israel. For 19 months these states have done nothing to alter their relationships with Israel, or to impact the normal flows of trade and treatment. They have not enacted their responsibilities as outlined by world courts, nor have they brought the slightest real pressure to bear in defence of two million trapped civilians. Such steps are not mere tokens. Israel can live without our approval as individuals. However, Israel cannot live in the style to which it is accustomed without European, North American, and other diplomatic indulgence, interactions, and normalcy. Israel's colonisation and genocide is predicated on impunity, in which Western governments collude. Historically, the withdrawal of diplomatic permission has been the brake that ended Israel's assaults on the Gaza Strip. In 2015, Israel's Office of the State Comptroller published its assessment of Israel's 2014 bombardment of Gaza. Israeli newspapers called the report 'scathing' 'scalding… blistering'. Among its criticisms: Israel bombed Gaza for fifty days without consistent objectives to focus and limit its use of violence. Israel's security cabinet and IDF periodically paused to assess the war's impacts on Israel's international standing. Finding that states did not require Israel to stop, the security cabinet opportunistically wrote new objectives and carried on bombing. They did that four times – until they were stopped. It is wrong to think that only Trump matters to Israel. Israel is deeply integrated into international – particularly European and American – trade, tourism, and culture. There is every reason to believe that Israel remains susceptible to broad international pressure. Right now, 81% of Gaza is unilaterally designated as an IDF military zone and / or is under displacement orders. The people of Gaza are being funnelled into killing zones. The danger to Gazan Palestinians is desperate and words do not protect them. They are starving and words do not fill their stomachs. Enough words! We must see action – sanctions, penalties, consequences. Gaza cannot wait. ----- GLOBAL JEWS FOR PALESTINE We are Jews from many countries, who are members of local, national and international networks and organizations. We are multi-ethnic and multigenerational and our members embrace a broad range of viewpoints on Jewish religious and ethical traditions. We are connected by our involvement in the struggle for Palestinian rights, and by our determination to work for justice. We oppose Zionism and all forms of racism and colonialism. We believe that it is our particular responsibility to challenge Jewish organizations whose alliances and actions undermine Palestinian human and national rights, promote Jewish exceptionalism, and overturn Jewish social justice traditions. At the heart of our work is the fight for Palestinian liberation and the struggle for a world free of racial and ethnic hierarchy, colonial domination, and unbridled militarism.
Bloomberg
a day ago
- Business
- Bloomberg
Glencore Buys Russian Copper on LME to Feed Tight Chinese Market
Glencore Plc has been buying Russian copper on the London Metal Exchange and plans to deliver it into China, in a trade that highlights a squeeze on supplies in the world's largest copper consumer. In the past three trading sessions there have been requests for delivery of about 15,000 tons of copper from LME warehouses in Rotterdam, according to exchange data, drawing down available exchange inventories to the lowest in a year. Glencore was the key trader behind those withdrawal requests and is making plans to deliver the metal, which is Russian in origin, to China, according to people familiar with the matter.
Times
2 days ago
- Business
- Times
Cobalt prices IPO in bid to become biggest London listing in a year
A Glencore-backed cobalt group has priced its $230 million initial public offering at $2.56 a share as it aims to become the biggest stock market listing in London since early last year. Cobalt Holdings is seeking to capitalise on low prices for the battery metal by stockpiling it in anticipation of a recovery in the long-term, as demand for electric vehicles and energy storage facilities increases. The group announced its intention to float earlier this month, defying the trading turmoil unleashed by President Trump's tariff chaos. However, in a prospectus published on Tuesday it acknowledged that intensifying trade tensions between the US and China could affect the pricing and availability of cobalt and potentially have a 'material adverse effect' on its business. The prospectus confirmed that it intends to sell 90 million new shares priced at $2.56 a share, with unconditional trading to begin on the main market of the London Stock Exchange on June 10. Cobalt Holdings will then use $200 million of the proceeds to purchase 6,000 tonnes of cobalt at a slight discount to market prices from Glencore, the FTSE 100 commodities miner and trader. Glencore will take a 10 per cent stake in the company and the American investment firm Anchorage is taking a 9.5 per cent stake. The cobalt will be stockpiled at secure facilities in Belgium, the Netherlands, Singapore and South Korea. Cobalt Holdings says it offers investors 'pure-play exposure to cobalt … without the direct risks and liabilities associated with cobalt exploration, development or mining operations'. The price of cobalt has fallen sharply in the past few years, losing about three quarters of its value from a recent peak in 2022 to the start of this year. In response to the supply glut, the Democratic Republic of Congo, which produces three-quarters of the world's cobalt, in February said it was suspending exports for four months. Prices have rallied by about 50 per cent since then but remain at less than half their 2022 high, with the DRC considering an extension of its ban in an attempt to further support prices. Global cobalt demand stood at about 239,000 tonnes last year while supply was nearer 254,000 tonnes, according to Benchmark Minerals. The surplus is forecast to continue this year and the 6,000 tonnes Cobalt Holdings plans to buy would account for about a third of excess supply volumes. Jake Greenberg, chief executive of Cobalt Holdings, argues that 'now is an opportune time to purchase cobalt when cobalt is trading below long-term average prices, providing investors with exposure to the cobalt price as the market is expected to turn from oversupply to deficit in the coming years'. The group says that demand is expected to increase to enable production of high-performance batteries for use in electric vehicles, portable electronics and energy storage systems. Its prospectus acknowledges that the bet may not pay off, with Trump's tariffs among the risks to demand. The cobalt price could be affected by 'any trade wars between the United States and China or other end users which may include the imposition of tariffs on EVs and consequently reduce the demand for cobalt in EV battery production'. 'In addition, the introduction of any US tariffs on cobalt produced or refined in China could impact the supply of cobalt available to the company and limit any resale market as a result of reduction in demand from the US,' it said. It noted that some big cobalt producers were stepping up production. 'Although the directors believe that cobalt is currently in oversupply, causing historically low pricing, there is no guarantee that cobalt production will not continue to increase or that global supply levels will not remain high. If supply continues to outpace demand, the market surplus could widen, further reducing cobalt prices,' it said. This could have a 'material adverse effect' on the business.
DW
3 days ago
- Business
- DW
Cobalt mining in Congo — Child labor powering green tech – DW – 05/26/2025
Cobalt is a component in batteries for cell phones, EVs and e-bikes, but it's also used in medical technologies and aircraft construction. Around three-quarters of the world's supply of this coveted metal currently comes from the DRC in Central Africa. Kolwezi is known as the country's cobalt capital. Industrial mines, like those operated by Swiss multinational Glencore and Chinese firms, are found here alongside illegal sites where hundreds of thousands of people hack the metal out of the ground with their bare hands. Human rights organizations like Amnesty International and Save the Children estimate that tens of thousands of minors work in these illegal cobalt mines. In protest, activists have repeatedly called for a boycott on cobalt from the DRC. To what extent is child labor a factor in cobalt production today, and what can consumers do to combat it? What about corporate responsibility? Are companies doing enough to ensure the cobalt they're using hasn't been mined by a child?
