Glencore – Page 11 – Republic of Mining

Why Northern Ontario remains mining central: Investment, innovation fuel growth in Sudbury-North Bay mining cluster – by Norm Tollinsky (Canadian Mining Journal – March 19, 2022)

March 22, 2022

https://www.canadianminingjournal.com/

This year’s annual U-Haul Growth Index, which tracks the net gain of one-way U-Haul trucks arriving in a Canadian city, ranked North Bay, Ont., as the country’s leading growth city for the second year in a row with Sudbury following close behind in third place.

Covid-19 and skyrocketing housing prices in the Greater Toronto Area certainly had something to do with it, but both cities owe much of their appeal to the economic impact of northeastern Ontario’s mining cluster.

Glencore’s Zinc Mine Expansion Threatened by Indigenous Backlash – by James Thornhill (Bloomberg News – February 15, 2022)

February 17, 2022

https://www.bnnbloomberg.ca/

(Bloomberg) — Glencore Plc’s plans to expand one of the world’s largest zinc and lead mines has been thrown into doubt after an Australian government judged it failed to adequately consult with Aboriginal custodians over the protection of a sacred site.

In a ruling that may remind resource investors of the backlash against Rio Tinto Group’s 2020 destruction of ancient rock shelters, the Northern Territory government found that Glencore didn’t consult all custodians of the Damangani sacred site on its McArthur River mine expansion plans.

Britishvolt secures $54 million from Glencore for UK gigafactory – by Cecilia Jamasmie (Mining.com – February 15, 2022)

February 15, 2022

https://www.mining.com/

Electric vehicle (EV) battery start-up Britishvolt, which has the ambitious plan to build a recycling gigafactory in the UK, has secured a £40 million ($54 million) cornerstone investment from partner Glencore (LON: GLEN).

The miner and commodities trader’s backing is part of Britishvolt’s £200 million Series C fundraising led by Bank of America, which launched Tuesday, the company said.

OPINION: The dirty secrets behind Sudbury’s regreening – by Joan Kuyek (The Narwhal – September 30, 20210

September 30, 2021September 30, 2021

The Narwhal

Joan Kuyek is co-founder of MiningWatch Canada and the author of Unearthing Justice.

A recent op-ed in The Narwhal said that Sudbury, Ont. offered proof that a “[post-mining] re-greening road map exists,” and indicated that Sudbury provides a model to the world. However, any community attempting to replicate the Sudbury model has to know its dirty, and often untold, stories.

The mines and smelters in Sudbury — Canada’s largest mining community — were built on and destroyed the lands of the Atikameksheng Anishinaabek. The boundaries of their tiny reserve were deliberately drawn to exclude mineral rich lands. Although over $1 trillion has been taken from the Sudbury region, the First Nation has received no compensation and no apology.

Glencore’s future in Sudbury means going deeper – much deeper – underground – by Jim Moodie (Sudbury Star – September 12, 2021)

September 16, 2021

https://www.thesudburystar.com/

With reserves dwindling at its existing operations, Glencore has staked $1.3 billion on a new mine that will reach more than two kilometres — picture four CN Towers — below the surface.

“We’ve been mining around Sudbury for a long time now,” vice-president Peter Xavier told a Greater Sudbury Chamber of Commerce audience Thursday, as keynote speaker for the group’s AGM. “That means a lot of near-to-surface, easy-to-find deposits are long gone, so the future is very much at depth.”

What mining, oil and gas industries can learn from Sudbury, the city that went from major polluter to thriving environment – by Nadia Mykytczuk (The Conversation – August 25, 2021)

August 25, 2021

https://theconversation.com/

Nadia Mykytczuk is the Interim CEO/President of MIRARCO, Laurentian University.

When Prime Minister Justin Trudeau met with Swedish environmental activist Greta Thunberg in Montréal two years ago, he promised to plant two billion trees by 2030 to help Canada meet its net-zero emissions goal.

Planting trees, however, is hard work. It takes money and planning. But a re-greening roadmap exists.

Sudbury, the largest city in Northern Ontario, transformed itself after decades of environmental devastation, brought on by the mining industry. Other communities and industries, like oil and gas, can replicate the city’s efforts to aid in global efforts to fight climate change.

A devastated landscape

For almost 100 years, Sudbury’s community and environment were blanketed in sulfur dioxide and metals released from the smelting of nickel ore.

Ferrochrome is part of the green revolution – Glencore – by Martin Creamer (MiningWeekly.com – August 6, 2021)

August 6, 2021

https://www.miningweekly.com/

JOHANNESURG (miningweekly.com) – Diversified mining and marketing company Glencore views the ferrochrome market as being particularly strong currently. “We’ve seen very healthy ferrochrome prices and good cash generation in that business,” Glencore CEO Gary Nagle said.

In response to Mining Weekly during a media conference following the company’s presentation of record half-year results, Nagle highlighted ferrochrome’s good fortune as being driven by the very strong global production of stainless steel, in which it is a key ingredient.

Fiscal stimulus has boosted demand for white goods and the like, and stainless steel and its ferrochrome twin have provided the necessary innards to meet that demand.

Glencore to return $2.8 billion to shareholders in 2021 (Sudbury Star/Reuters – August 6, 2021)

August 6, 2021

https://www.thesudburystar.com/

LONDON — Glencore will return $2.8 billion to shareholders in 2021 after soaring commodity prices helped the mining and trading company to a record performance for the first six months of the year, it said on Thursday.

The London-listed company joins rivals Rio Tinto and Anglo American in declaring bonanza payouts after record half-year profits buoyed by a rebound in demand for commodities.

“Following COVID-19’s severe global impacts in early 2020, the subsequent economic recovery has seen prices of most of our commodities surging to multi-year highs,” said Glencore CEO Gary Nagle, who took the helm of the company in July.

New face, old hand: What to watch out for in Gary Nagle’s first year as Glencore CEO – by David McKay (MiningMX.com – August 3, 2021)

August 4, 2021

Home 2024

ASKED at a press conference what his successor might look like, Ivan Glasenberg replied: “I hope he looks like me.” It was a quip that anticipated in Gary Nagle, Glencore’s CEO from July, a company preferring continuity over novelty. Nagle might not be Glasenberg’s lookalike, but he is certainly a ‘think-alike’.

Analysts don’t expect Nagle to spring any surprises when he gets into his stride, which should be immediately. He’s been at the company since graduation (in accounting).

His alma mater is the University of the Witwatersrand, the same as Glasenberg’s. Like Glasenberg, Nagle learned the ropes in the group’s coal division.

Glencore: life after Ivan Glasenberg (Swiss Info – July 6, 2021)

July 7, 2021

https://www.swissinfo.ch/eng/

In his closing days as Glencore boss last week, Ivan Glasenberg flew to Kazakhstan and Tajikistan for presidential meetings, oversaw the appointment of a new chair and found the time for one last deal, a buyout of the company’s partners in a huge Colombian coal mine.

Over almost two decades, the chief executive’s relentless work ethic, steely resolve and fierce competitive spirit have driven the company’s transformation from a privately owned commodity trader into a $58 billion (CHF53 billion) publicly listed natural resources giant.

“We built the fourth-largest mining company in the world in 20 years,” Glasenberg told the Financial Times last month.

Now, with the Glasenberg era over and the world turning its back on fossil fuels, his handpicked successor Gary Nagle and new chair Kalidas Madhavpeddi need to hit the ground running.

Glencore Names New Chairman to Complete Leadership Overhaul – by Thomas Biesheuvel (Bloomberg News – July 2021)

July 5, 2021July 5, 2021

https://www.bnnbloomberg.ca/

(Bloomberg) — Glencore Plc, the world’s top commodities trader, named mining veteran Kalidas Madhavpeddi as its new chairman, completing a raft of leadership changes at the company.

Madhavpeddi has worked in the mining industry for more than 40 years, including spending a decade as CEO of China Molybdenum International. Glencore gains a new chairman with extensive experience of working in the Democratic Republic of Congo, home to some of the company’s most important mines, and someone who has worked closely with China for years.

The latest appointment concludes the overhaul of Glencore’s top management over the past few years. Tony Hayward’s departure as chairman, which was flagged earlier this year, comes just one week after Gary Nagle replaced billionaire Ivan Glasenberg as chief executive officer.

Glencore to buy out Anglo American and BHP at coal mine – by Greg Roxburgh(Alliance News – June 28, 2021)

June 28, 2021

https://www.morningstar.co.uk/

(Alliance News) – Glencore PLC on Monday said it has agreed to buy out its Cerrejon coal mine joint venture partners, Anglo American PLC and BHP Group PLC, for USD588 million.

For London-based Anglo American, the sale will mark the wide-ranging miner’s exit from thermal coal. Anglo will be selling its 33% stake in the Colombian mine for USD294 million.

“Today’s agreement marks the last stage of our transition from thermal coal operations,” said Anglo American Chief Executive Mark Cutifani.

Glencore preparing to go deeper than deep at Timmins’ Kidd Mine – by Staff (Northern Ontario Business – June 8, 2021)

June 8, 2021

https://www.northernontariobusiness.com/

Feasibility study to be start on another expansion to world’s deepest base metal operation

After 55 years, the world’s deepest base metal mine looks to still have some life yet.

Glencore Canada is spending US$44 million on drilling and a feasibility study in preparing for another deep mine expansion at Kidd Mine near Timmins Kidd’s current life of mine runs out at the end of 2023 but Glencore management and technical staff have been working to extend it.

Known as Mine 5, Glencore said they’ve put 89,000 metres of drilling into the ore body and have queued up a new round of 87,000 metres once safety protocols are put in place.

Glencore approves further drilling in hopes of extending Kidd mine life – by Ron Grech (Timmins Daily Press – June 4, 2021)

June 4, 2021

https://www.timminspress.com/

$50M feasibility study to be completed by end of 2022

Glencore Canada is investing more than $50 million on a drilling and feasibility program aimed at extending mine life at Kidd Operations. The mine is currently projected to wind down by end of 2023. However, hopes remain alive that operations may extend beyond that.

Last week, the company advised staff that the next phase of drilling and feasibility was approved for what has been dubbed the Mine 5 project, Alexis Segal, Glencore’s head of corporate communications told The Daily Press Thursday night.