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Glencore completes Acquisition of voting Shares of Volcan Compañia Minera S.A.A.

Glencore refers to its announcement of 3 October 2017, in which it announced that it intended to make an offer to all of Volcan's shareholders via a public tender offer or oferta pública de adquisición de acciones subject to the laws and regulations of the Republic of Peru for up to 48.19% of the total class A common shares of Volcan at an offer consideration of US$1.215 per class A common share ("Offer").

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Stake in Rosneft held by Glencore-QIA Consortium

The consortium (the Consortium) controlled by Glencore and Qatar Investment Authority has concluded an agreement with CEFC China Energy Company Limited (CEFC) regarding a transaction in terms of which the Consortium would dispose of a 14.16% stake in Rosneft Oil Company (Rosneft) to CEFC (the Shares) at a premium of approximately 16% to the 30 day volume weighted average price of Rosneft shares on 8 September 2017.  

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Glencore to support Paranapanema Restructuring

Glencore plc (''Glencore'') announces that it has entered into an agreement with Paranapanema (''PMA'') to support its capital and debt restructuring through an investment of R$66,000,000 (Brazilian Reais) or approximately USD$21,000,000 in PMA's possible upcoming issuance of new shares ("the Transaction").

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Glencore to support Nyrstar at Port Pirie

Glencore announces that it has been engaged by Nyrstar to provide, through the Kazzinc operation in Kazakhstan, training and ramp-up support services in connection with Nyrstar's Transformation Project in Port Pirie, South Australia. This follows the successful implementation of Kazzinc's New Metallurgy Project, which was completed in 2012.

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Glencore and HNA establish HG Storage International Ltd.

Glencore plc ("Glencore") announced that it has entered into a definitive agreement with HNA Innovation Finance Group Co., Ltd. ("HNA") for HNA to purchase a 51% equity interest in Glencore's petroleum products storage and logistics business for US$775 million, payable in cash upon closing, subject to customary closing adjustments (the "Transaction").

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Glencore Zinc Transaction with Trevali

 

Glencore plc announce that it has entered into a definitive agreement with Trevali Mining Corporation, whereby Trevali will purchase Glencore's 80% interest in the Rosh Pinah mine in Namibia and 90% interest in the Perkoa mine in Burkina Faso.

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New strategic Partnership between Glencore and Qatar Investment Authority relating to Rosneft

Glencore and QIA have concluded various agreements which provide for the establishment of a 50:50 consortium (the Consortium).

The Consortium has entered into agreements in connection with the further privatisation of Rosneft whereby the Consortium will acquire from Rostneftegaz a 19.5% interest in the issued share capital of Rosneft (the Shares) for €10.2 billion (the Consideration). Under the proposed arrangements, Glencore will commit €300 million in equity (the Glencore Equity) and QIA will commit €2.5 billion in equity to the Consortium with the balance of the consideration for the acquisition of the Shares to be provided by non-recourse bank financing, principally by Intesa Sanpaolo S.pA., with Russian banks also providing financing and credit support.

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Glencore: 2016 Half-Year Report - further Losses

"Delivering on our debt reduction plan, underpinned by industry-leading cost performance and robust operating cash flows"

Glencore's Chief Executive Officer, Ivan Glasenberg, commented: "Since we announced our measures to reduce debt levels last September, we have made considerable progress towards achieving our goals.

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Glencore2016 Half-Year Production Report

Production highlights

  • Production, as expected, was down period-on-period in commodities where we previously announced, and are delivering on, proactive supply reductions (copper, zinc, lead, coal and oil).
  • Own sourced copper production of 703,000 tonnes was 4% down on H1 2015, due to the previously announced curtailments at our African operations, partly offset by generally higher grades in South America.
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