Latest news with #Glencore
Bloomberg
5 hours ago
- Business
- Bloomberg
Glencore Trader Who Led Ill-Fated Battery Recycling Push to Exit
Glencore Plc head of recycling Kunal Sinha is stepping down after unwinding the firm's unsuccessful investment partnership with battery metals recycler Li-Cycle Holdings Corp, according to people familiar with the matter. While better known as a miner and commodity trader, Glencore has long been a major player in recycling metals including copper and lead. It expanded into battery recycling in 2022 with investments in Li-Cycle and UK-based Britishvolt, with Sinha spearheading the effort.
Yahoo
a day ago
- Business
- Yahoo
Liebherr finalises equipment supply deals across Glencore's Australia operations
Liebherr-Australia has finalised multi-year equipment supply agreements with Glencore for its Australian operations. As part of phase one of the agreement, Liebherr will deliver 17 mining machines across Glencore's six major operations in Queensland and New South Wales (NSW) by the end of 2026. To ensure the long-term performance of these machines, Liebherr-Australia will provide dedicated site support including embedded technicians and training for operators and technical staff. Besides the initial 17 machines, additional units are scheduled for delivery in both Queensland and NSW throughout 2027, as part of the ongoing agreement with Glencore. Liebherr-Australia sales, marketing, training and solutions executive general manager Brian Boitano said: 'We are excited to announce this new era of partnership with Glencore. Securing multi-year supply agreements of this scale is a proud moment for Liebherr-Australia. It reflects the capability of our national team to support large, complex fleets and deliver consistent performance across multiple sites.' The agreement, stemming from Glencore's 2023 group tender, will commence with the delivery of ten R 9600s, five R 9400s, one R 9800 and one R 9100. Notably, seven of these machines will be powered by Liebherr's D9812 engines. To date, seven of the planned 17 machines have been commissioned at Glencore's sites. The delivery of two R 9600 excavators to the Hail Creek mine represents Liebherr's first equipment at the Queensland operation. In NSW, Liebherr-Australia has delivered its first excavators to Ravensworth and introduced new machines at the United Wambo mine. Boitano added: 'Delivering multiple machines to Glencore over the past eight months, some of which were the first to be introduced to Ravensworth, was a testament to our high-performing product portfolio and also marked an important milestone in our partnership.' In the Hunter Valley region of NSW, Glencore's Ravensworth, United Wambo, Bulga and Mount Owen operations will collectively receive 12 of the 17 machine deliveries by the end of 2026. In Queensland, Glencore's Hail Creek operation welcomed its first Liebherr machine, an R 9600, in February, with another added in July and one more expected in 2026. The company's Rolleston site will also receive two R 9600s next year. Boitano concluded: 'This agreement lays a solid foundation for our future with Glencore and we are excited about more machines coming in 2026 and 2027, with the potential for further expansion. For now, production and reliability are what matter most and we are proud to play a role in delivering both. Together, we are building a long-term partnership.' "Liebherr finalises equipment supply deals across Glencore's Australia operations" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
3 days ago
- Business
- Yahoo
Prediction: in 12 months Glencore and Diageo shares could turn £10,000 into…
Diageo (LSE: DGE) shares are a blight on my Self-Invested Personal Pension. The FTSE 100 drinks giant is down 20% over the last year and almost 50% across three. Glencore (LSE: GLEN) has been just as grim. The commodities and trading giant has fallen 27% and 35% over the same periods. Diageo has struggled with weaker consumer demand in key markets, currency swings and restructuring costs. Glencore has been hammered by sliding coal prices, lower copper volumes and uncertainty over global trade. FTSE 100 strugglers I actually bought both stocks after their troubles began, thinking I was getting in at a bargain price. Instead, they kept tumbling. I'm personally down a third on both. Yet despite the pain, I've held on. Maybe that's stubbornness. Or a refusal to take the loss. But I still believe both companies have recovery potential, even if they're taking time to show it. Diageo's full-year results, released on 5 August, showed organic net sales up 1.7% thanks to pricing gains, but operating profit dipped 0.7% to $5.7bn. Reported profit slumped 27.8% to $4.33bn. Yet cash flow was strong at $2.74bn. The board lifted its cost-savings target to $625m. Standout brands like Don Julio and Guinness continued to grow. Glencore also disappointed with half-year results on 6 August. Adjusted earnings slid 14% to $5.4bn, while marketing profits fell 8% to $1.8bn amid weaker coal prices and lower copper output. Copper production dropped 26% due to declining grades, although cobalt rose 19%. The group pledged $1bn in savings. Mixed valuations today Diageo trades on a trailing price-to-earnings ratio of 16.7, only slightly above the long-term FTSE 100 average of around 15. The dividend yield is 3.83%, which is alright but not great. Glencore's volatile earnings leave it with a negative P/E, reflecting a 76% fall in EPS last year from $1.40 to 34 cents. The trailing yield is 2.46%. I am more optimistic about Diageo, but Donald Trump's tariffs could keep the pressure on. I'm also nervous about younger generations drinking less and the impact of weight-loss drugs on alcohol demand. The whole commodities sector is struggling and I can't see a reprieve. China's 2025 GDP growth target is around 5%, but many doubt its accuracy. Either way, the construction boom days are long over. Forecasts for the year ahead Analysts see some light. Forecasts suggest Diageo could climb to 2,310p in the next year, which would be a rise of 13.73% from today's 2,031p. Add the forecast 3.79% dividend and total returns could reach 17.52%. That would turn £10,000 into £11,752. Glencore forecasts are brighter still. Brokers tip the shares to reach 356.8p, a 19.01% gain from today's 299.8p. With a 2.46% forecast yield, the total return could be 21.47%. That would turn £10,000 into £12,147. Both forecasts are rosier than my current mood, but perhaps that reflects how beaten down I feel. The bad news is well known and priced in. If we do get good news, these shares could recover. I will keep holding, and contrarian investors might consider buying at these levels. But only for long-term investors with bags of patience. This could take time. The post Prediction: in 12 months Glencore and Diageo shares could turn £10,000 into… appeared first on The Motley Fool UK. More reading 5 Stocks For Trying To Build Wealth After 50 One Top Growth Stock from the Motley Fool Harvey Jones has positions in Diageo Plc and Glencore Plc. The Motley Fool UK has recommended Diageo Plc. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. Motley Fool UK 2025 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Time of India
5 days ago
- Business
- Time of India
Bharat Petroleum said to have bought 10 million barrels of US oil via 5-month tender
India's state-run Bharat Petroleum Corp has awarded a five-month tender for 10 million barrels of U.S. oil to European trader Glencore, two people with knowledge of the matter said, aiding India's efforts to deepen energy ties with Washington. India, the world's third-largest oil importer, is increasing imports from the United States as negotiations for a bilateral trade agreement continue. Under the deal, Glencore will deliver 2 million barrels of WTI Midland crude per month from November to March to the Indian refiner, the sources said, doubling the volume BPCL imported under its previous tender. Indian refiners and traders do not comment on oil trade issues citing confidentiality. The increased imports are expected to support India's efforts to narrow its trade surplus with the U.S., which stood at $45.7 billion last year. Trade tensions between India and the United States have escalated sharply in the last few weeks, with U.S. President Donald Trump imposing a 25% tariff on Indian goods starting August 7 and threatening similar measures over the Asian country's continued purchases of Russian oil. During Prime Minister Narendra Modi's visit to Washington in February, India pledged to raise U.S. energy purchases from $10 billion to $25 billion, with both nations targeting $500 billion in bilateral trade by 2030. Indian refiners have already increased imports of U.S. oil from the spot markets on improved arbitrage economics of sending Atlantic Basin grades to Asia. Refiners also plan to raise imports of cooking gas from the U.S. from 2026, while the federal government is looking at eliminating import tax on propane and liquefied natural gas purchases from the U.S.
The Guardian
5 days ago
- Business
- The Guardian
Koala habitat would be destroyed by Glencore plan to expand Queensland coalmine
Glencore wants to clear 680 hectares of land, including 600ha of koala habitat, to expand its Hail Creek mine west of Mackay. Campaign group Lock the Gate, the Queensland Conservation Council (QCC) and the Mackay Conservation Group have written to the federal environment minister, Murray Watt, to ask for a moratorium on project applications in the area
