Glencore Set to Lose Crown as Top Cobalt Miner to China’s CMOC – by Mark Burton (Bloomberg News – March 21, 2023)

(Bloomberg) — A Chinese miner is set to overtake Glencore Plc as the world’s top cobalt producer this year, as the rush for critical green-energy metals intensifies.

The challenger to Glencore’s dominant position is CMOC Group, which first became a major player in the cobalt market when it acquired the Tenke Fungurume mine in the Democratic Republic of Congo in 2016. The company aims to double production this year, as it brings another massive Congolese mine online in the second quarter. That will propel it past Glencore, company filings show.

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The Drift: Glencore hopes to attract ‘best and brightest’ to Sudbury mining electric vehicle lab – by Lindsay Kelly (Northern Ontario Business – March 3, 2023)

Glencore Sudbury INO’s $350,000 donation to Cambrian College will be ‘transformative gift’ in advancing BEV innovation

Growing up, Matteo Neville was the kind of kid who spent his time taking apart motors and engines just so he could figure out how they worked.

He was fascinated by robotics and technology, electronics and programming, so when he decided to return to school as a mature student, he was immediately drawn to Cambrian College’s mechatronics program.

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Glencore Must Pay Almost $30 Million to Bribery Victim Crusader Health – by Chris Dolmetsch (Bloomberg News – February 27, 2023)

(Bloomberg) — Glencore Plc was told to pay almost $30 million in restitution to the founders of a company that provided healthcare related services in the Democratic Republic of the Congo and was forced to shut down as a result of the commodities giant’s global bribery scheme.

US District Judge Lorna G. Schofield in New York on Monday ordered Glencore to pay $29.6 million to the company, Crusader Health, for bribing a public official in the Democratic Republic of the Congo in exchange for dismissing a lawsuit brought by Crusader against a Glencore subsidiary. Crusader had sought more than $50 million.

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Glencore posts record profit for 2022, warns of higher mining costs (Sudbury Star/Reuters – February 16, 2023)

Company announces a payout of $7.1 billion to its investors on Wednesday, as high oil and coal prices helped it to post a record annual profit

Glencore announced a payout of $7.1 billion to its investors on Wednesday, as high oil and coal prices helped it to post a record annual profit, but it said the rising costs of producing minerals could dent future earnings.

In preliminary 2022 results, the miner and trader said it cut net debt to $75 million at the end of the year from $6 billion at the end of 2021.

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Glencore’s 2022 cobalt production up, along with oil, nickel, ferrochrome – by Martin Creamer (MiningWeekly – February 1, 2023)

JOHANNESBURG ( – Mining and marketing company Glencore produced 40% more cobalt last year, along with 16% more oil, 5% more nickel and 1% more ferrochrome.

Although coal production of 110-million tonnes was 6.7-million tonnes higher, on a like-for-like basis, overall group coal production fell by 7%, primarily owing to wet weather challenges and an extended community blockade in Colombia, where Glencore now owns 100% of Cerrejón.

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Arsenic in the air, fear and anger on the ground – by Eric Andrew-Gee (Globe and Mail – January 23, 2023)

As research shows carcinogens in their children’s bodies, people in Rouyn-Noranda are demanding more loudly that the local copper smelter – long exempt from provincial emissions rules – should clean up its act

Ethan Valois is eight now, and the arsenic levels in his body have started to come down. He and his parents live in Rouyn-Noranda, Que., home to a copper smelter that emits the known carcinogen at levels about 30 times higher than the provincial limit.

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Glencore halts operations in Peru due to violent protests – by Valentina Ruiz Leotaud ( – January 21, 2023)

Following Friday’s attack that set on fire a worker housing area, Glencore announced that it has halted operations at the Antapaccay copper mine in southern Peru.

In a media statement, the company said that yesterday’s incidents endangered the safety of its employees and, therefore, authorities should start taking action to safeguard people’s integrity and private property rights.

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Investors with $2.2 trillion in assets ask Glencore to disclose thermal coal plans – by Cecilia Jamasmie ( – January 5, 2023)

Glencore (LON: GLEN) is facing fresh pressure from investors with $2.2 trillion in assets to disclose how the company’s projected thermal coal production aligns with the Paris Agreement’s objective to pursue efforts to limit the global temperature increase to 1.5°C.

Shareholders including Europe’s Legal and General Investment Management (LGIM) and HSBC Asset Management have filed a resolution demanding details on the matter, which will go to vote at Glencore’s annual meeting in May.

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Sudbury: Going deeper will mean mining longer in Sudbury, Ont. (CBC News Sudbury – January 2, 2023)

The Onaping Depth project will be 2,500 metres below the existing Craig Mine

To extend its Sudbury, Ont., mining operations to 2040, Glencore plans to go very deep underground. The mining giant expects its $1.3-billion Onaping Depth project to be fully operational by 2025.

The new mine is being built around 2,500 metres below the former Craig Mine, which shut down in 2009.

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Glencore says this time is different for coming copper shortage – by Staff ( – December 6, 2022)

Glencore Plc added its voice to a chorus of miners warning of coming copper shortages, arguing that a “huge deficit” is looming for the crucial industrial metal.

Chief Executive Officer Gary Nagle said that while some people were assuming that the industry would lift supplies as it had in previous cycles to meet a forecast increase in demand driven by the energy transition, “this time it is going to be a bit different.”

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DR Congo: Miner Glencore pays $180m in latest corruption case – by Daniel Thomas (British Broadcasting Corporation – December 5, 2022)

The Swiss-based mining company, Glencore, has said it will pay $180m (£147m) to the Democratic Republic of Congo to settle corruption claims. The agreement covers an 11-year period from 2007 to 2018.

It is the latest in a series of corruption cases which has seen Glencore agree to pay out more than $1.6bn in fines this year. In May it admitted bribing officials in several African nations including DR Congo (DRC). The Congolese government has told the BBC it is not commenting.

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Mining company Glencore plans for new furnace in Sudbury, Ont. (CBC News Sudbury – November 3, 2022)

The current furnace was built in 1978 and one of the oldest of its kind in the world

Mining giant Glencore plans to have a new furnace at its Sudbury operations by 2026. The project is expected to cost more than $100 million.

The company’s current electric furnace was built in 1978, which makes it one of the longest-running furnaces of its kind in the world, according to Peter Xavier, vice-president of Glencore’s Sudbury Integrated Nickel Operations.

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Glencore employees moved bribes cash by private jet, London court told – by Sam Tobin (Reuters – November 2, 2022)

LONDON, Nov 2 (Reuters) – Employees and agents of a British subsidiary of mining and trading group Glencore (GLEN.L) used private jets to transfer cash to pay bribes to oil officials in West Africa, prosecutors told a London court on Wednesday.

Glencore Energy UK Limited paid – or failed to prevent the payment of – millions of dollars in bribes to officials in five African countries, Britain’s Serious Fraud Office (SFO) told Southwark Crown Court on the first day of a sentencing hearing.

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Tesla held discussions over taking stake in Glencore – by Leslie Hook and Harry Dempsey (Financial Times – October 31, 2022)

Talks over buying up to 20 per cent of miner reflect carmakers’ concerns over supplies of battery metals

Tesla held talks with Glencore about taking a stake in the Swiss commodities group, in a sign of how global carmakers are seeking to build ties with the mining industry to secure materials needed for the rollout of electric vehicles.

Preliminary discussions about Elon Musk’s electric car and battery maker buying 10-20 per cent of Glencore began last year, according to two people familiar with the matter.

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‘Beginning of a great clash’: Controversy over Canada’s last copper smelter highlights bumpy green transition – by Marisa Coulton (Financial Post – October 7, 2022)

Residents harbour a love-hate relationship with the plant that simultaneously nourishes and poisons their community

For years, the residents of Rouyn-Noranda, Que., a picturesque city of 42,000, some 630 kilometres northwest of Montreal, have contemplated the twin smokestacks that simultaneously nourish and poison their community.

The Horne smelter is owned by Baar, Switzerland-based energy giant Glencore PLC, and is believed responsible for higher rates of lung cancer in the region. It also contributes to lower birth weights, as well as higher rates of diabetes and heart disease, a recent provincial health study showed.

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