OTCPK:NNDIF - Post by User
Comment by
Bigbird9999on Mar 21, 2017 4:00pm
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Post# 26009899
RE:article on Glencore and Zn
RE:article on Glencore and ZnWhen Glencore took over Xstrata, Glasenberg said something like "The miners have had their day ant running mining companies as price takers, Glencore intends to run this mining company alike a trading company in the future" Looks like that is what he is doing now.
See how deep their pockets are in the article you posted it says "But Wood Mackenzie estimates that about 200,000 tons of zinc sit unsold there, showing that even when zinc is produced, Glencore doesn't have to sell it. A Glencore spokesman declined to comment on the estimate."
200,000 tonnes (about 5 months of production) of finished goods represents about US$560 million at todays LME.
BB