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GLENCORE ADR GLNCY

Metals & Mining Industrial Metals & Minerals
Glencore PLC is a Switzerland-based producer and marketer of natural resources. The Company produces and markets a diverse range of metals and minerals - such as copper, cobalt, zinc, nickel and ferroalloys - and markets aluminium/alumina and iron ore from third parties. The Company is a producer and marketer of coal, with mines in Australia, Africa and South America - and a marketer of crude oil, refined products and natural gas. The Company physically source commodities and products from its global supplier base - and sell them to customers all over the world, transporting commodities by sea, rail and truck, storing, processing, and delivering them. The Company is also involved in the recycling of copper and precious metals.


OTCPK:GLNCY - Post by User

GLENCORE ADR
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Post by Slashnutson Aug 02, 2019 11:19am
248 Views
Post# 29988448

Glencore's Troubles Pile Up...

Glencore's Troubles Pile Up...Glencore’s Troubles Pile Up...

https://www.bloomberg.com/news/articles/2019-07-31/glencore-flags-cobalt-trading-losses-after-prices-tumble

The bad news just keeps coming for Glencore Plc -- this time out of Africa.
The commodities giant has had a tough few years, from corruption probes to getting caught up in the fallout from U.S. sanctions on Russia. This year, it’s been forced to watch from the sidelines a breathtaking rally in iron ore, a metal Glencore doesn’t produce at all, while rivals like BHP Group and Rio Tinto Group cash in.
The list of headaches got a little longer Wednesday, as the company warned it will take a $350 million hit to its fabled trading business when it reports first-half earnings next week, after prices for cobalt plunged.

Good Luck To All!$!$
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