MINING CORPORATIONS – SWITZERLAND

Rio must buy Glencore whole: shareholders

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Original article by Peter Ker
The Australian Financial Review – Page: 15 : 21-Jan-26

Some of Glencore’s biggest shareholders have stated that Rio Tinto must agree to buy the entire company rather than merely its most desirable assets, such as its copper and zinc mines. Rio Tinto is unlikely to want to retain Glencore’s coal assets if the proposed merger goes ahead, given that it exited the sector about eight years ago. However, some Glencore shareholders have warned that they are unlikely to support Rio Tinto’s bid if it seeks to ‘cherry-pick’ the company’s assets. The investors also contend that Rio Tinto will need to offer a takeover premium if its management team led by CEO Simon Trott is to run the merged group.

CORPORATES
RIO TINTO LIMITED – ASX RIO, GLENCORE PLC

BHP considering its options amid mega-merger talks

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Original article by Mark Wembridge, Tom Rabe
The Australian Financial Review – Page: 15 : 13-Jan-26

BHP has declined to comment on speculation about its possible response to the renewed merger between Rio Tinto and Glencore. Romano Sala Tenna from Katana Asset Management says it could make more sense for BHP to merge with Glencore, given that both companies have significant coal assets and Rio Tinto has completely exited that sector. He adds that growing global sovereign risk means that achieving scale in the mining sector also makes sense. MKI Global Partners’ CEO Mark Kelly in turn notes that BHP is seeking to reduce its reliance on iron ore for export earnings.

CORPORATES
BHP GROUP LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO, KATANA ASSET MANAGEMENT LIMITED, MKI GLOBAL PARTNERS

Labor warms to mining merger

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Original article by Brad Thompson
The Australian – Page: 13 & 14 : 13-Jan-26

The proposed merger between Rio Tinto and Glencore would require regulatory approval in a number of countries, including Australia. Resources Minister Madeleine King does not believe that a merger would be negative for Australia, noting that both companies have a significant presence in the nation’s resourcs industry; she adds that Rio Tinto will always be an important part of the domestic economy. Meanwhile, Barrenjoey analysts suggest that Glencore’s coal assets could be spun-off to existing shareholders if the proposed merger proceeds, given that Rio Tinto has exited coal mining.

CORPORATES
RIO TINTO LIMITED – ASX RIO, GLENCORE PLC, AUSTRALIA. DEPT OF INDUSTRY, SCIENCE AND RESOURCES, BARRENJOEY CAPITAL PARTNERS PTY LTD

Glencore walks away from taxpayer-funded clean energy pivot

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Original article by Peter Ker
The Australian Financial Review – Page: Online : 29-Oct-25

Anglo-Swiss miner Glencore has advised that it will not proceed with a proposed renewable energy and battery hub at its Murrin Murrin nickel mine and refinery in Western Australia. Glencore had received a $35m grant from the federal government’s Powering the Regions Fund to help finance the development of an 849-hectare renewables hub at Murrin Murrin, which currently operates its own gas-fired power station. A spokesman for Glencore says it decided to cancel the onsite hybrid renewable energy project due to a range of macroeconomic and cost factors. Glencore and the government have agreed to mutually terminate the grant.

CORPORATES
GLENCORE PLC

Mount Isa smelter set for bailout

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Original article by Ryan Cropp
The Australian Financial Review – Page: 1 & 8 : 8-Oct-25

The federal and Queensland governments are set to announce a taxpayer-funded support package for Glencore’s Mount Isa copper smelter. Industry sources have indicated that the package to be announced today will enable the plant to remain open for at least another four years. The federal and NSW governments are still holding talks with Rio Tinto regarding similar support for the Tomago aluminium smelter, while taxpayer assistance has previously been announced for the Whyalla steelworks and two zinc and lead smelters that are owned by Nyrstar Australia.

CORPORATES
GLENCORE PLC, GLENCORE AUSTRALIA PTY LTD, RIO TINTO LIMITED – ASX RIO, TOMAGO ALUMINIUM COMPANY PTY LTD, NYRSTAR AUSTRALIA PTY LTD

Big Glencore shareholders united on coal

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Original article by Peter Ker
The Australian Financial Review – Page: 15 : 30-Jul-24

Glencore CEO Gary Nagle initially proposed demerging its coal division in early 2023. However, some large shareholders want the global mining group to retain its coal assets, including its coking and thermal coal mines in NSW and Queensland. Australian coal shipments accounted for 52 per cent of Glencore’s earnings in 2023, although it also owns coal mines in Colombia, South Africa and Canada. Glencore recently completed the acquisition of Teck Resources’ coal mines in Canada.

CORPORATES
GLENCORE PLC, TECK RESOURCES LIMITED

Glencore captures Teck Resources’ coal operations in $14bn deal

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Original article by Nick Evans
The Australian – Page: 15 : 15-Nov-23

Glencore CEO Gary Nagle expects its $US8.9bn ($14bn) deal to acquire a majority stake in Teck Resources’ coking coal business to be finalised in the September 2024 quarter. Glencore will own 77 per cent of Elk Valley Resources if the deal is approved by Canadian regulators, while steelmakers Nippon Steel and Posco will be minority shareholders. Glencore is still proposing to demerge its coal division, which would include the Elk Valley mines as well as Glencore’s coal mines in Australia; Nagle says the process of hiving off the coal assets is likely to take about two years. Teck will in turn focus on copper and nickel production.

CORPORATES
GLENCORE PLC, TECK RESOURCES LIMITED, ELK VALLEY RESOURCES LIMITED, NIPPON STEEL CORPORATION, POSCO

Super fund targets dirty dozen firms

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Original article by Joanna Mather, Tom McIlroy
The Australian Financial Review – Page: 1 & 6 : 22-Feb-19

The Climate Action 100+ investor group has more resources companies in its sights after its lobbying compelled Glencore to restrict its annual coal production to current levels. Australian companies in the sector that it will target include BHP, Rio Tinto, South32 and Woodside Petroleum, as well as other listed companies such as Woolworths, Qantas and Adelaide Brighton. Andrew Gray of industry fund AustralianSuper is a member of the Climate Action 100+ group’s global steering committee.

CORPORATES
CLIMATE ACTION 100+, GLENCORE PLC, BHP GROUP LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO, SOUTH32 LIMITED – ASX S32, WOODSIDE PETROLEUM LIMITED – ASX WPL, SANTOS LIMITED – ASX STO, WOOLWORTHS GROUP LIMITED – ASX WOW, QANTAS AIRWAYS LIMITED – ASX QAN, ADELAIDE BRIGHTON LIMITED – ASX ABC, BORAL LIMITED – ASX BLD, AGL ENERGY LIMITED – ASX AGL, ORIGIN ENERGY LIMITED – ASX ORG, BLUESCOPE STEEL LIMITED – ASX BSL, AUSTRALIANSUPER PTY LTD, WASHINGTON H SOUL PATTINSON AND COMPANY LIMITED – ASX SOL, NEW HOPE CORPORATION LIMITED – ASX NHC, WOOD MACKENZIE, DALIAN PORTS GROUP, TRIBECA INVESTMENT PARTNERS PTY LTD, TERRA CAPITAL PTY LTD, ADANI MINING PTY LTD, QUEENSLAND RESOURCES COUNCIL LIMITED, CONSTRUCTION, FORESTRY, MARITIME, MINING AND ENERGY UNION OF AUSTRALIA, QUEENSLAND. DEPT OF THE PREMIER AND CABINET, AUSTRALIA. DEPT OF INDUSTRY, INNOVATION AND SCIENCE, AUSTRALIAN LABOR PARTY, INVESTOR GROUP ON CLIMATE CHANGE AUSTRALIA AND NEW ZEALAND, MINERALS COUNCIL OF AUSTRALIA, CALIFORNIA PUBLIC EMPLOYEES’ RETIREMENT SYSTEM, HSBC GLOBAL ASSET MANAGEMENT LIMITED, IRCANTEC, MANULIFE ASSET MANAGEMENT, HEALTH EMPLOYEES’ SUPERANNUATION TRUST AUSTRALIA LIMITED, CONSTRUCTION AND BUILDING UNIONS’ SUPERANNUATION FUND, AMP CAPITAL INVESTORS LIMITED, BT FINANCIAL GROUP PTY LTD, COLONIAL FIRST STATE GLOBAL ASSET MANAGEMENT

Glencore’s carbon cash cow: coal prices rising

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Original article by Paul Garvey, Perry Williams
The Australian – Page: 19 & 30 : 22-Feb-19

Glencore CEO Ivan Glasenberg says the Switzerland-based miner’s decision to cap annual coal production is likely to put upward pressure on coal prices, particular if global demand continues to increase. He notes that many other mining companies are also curbing coal output or seeking to divest coal assets. Dominic O’Kane of JP Morgan agrees that Glencore’s move could bolster coal prices, as well Glencore shareholders’ returns. Glencore has indicated that it has no plans to sell any of its coal mines or buy additional mines, although it has not ruled out increasing its stake in existing joint ventures.

CORPORATES
GLENCORE PLC, JP MORGAN AUSTRALIA LIMITED, DEUTSCHE BANK AG, AUSTRALIA. DEPT OF INDUSTRY, INNOVATION AND SCIENCE, CLIMATE ACTION 100+, CHURCH OF ENGLAND, MINERALS COUNCIL OF AUSTRALIA, WORLD COAL COUNCIL, AUSTRALIAN GREENS

Glencore: AFR must remove articles

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Original article by Neil Chenoweth
The Australian Financial Review – Page: 10 : 11-Oct-18

Lawyers acting on behalf of Glencore have asked Fairfax Media to remove documents from its website which are claimed to be subject to legal privilege. The documents in question are associated with an article published by the "Australian Financial Review" with regard to Glencore’s restructuring of its Australian division in 2014, which is under scrutiny by the Australian Taxation Office. Fairfax has rejected suggestions that it has infringed on the miner’s legal rights.

CORPORATES
FAIRFAX MEDIA LIMITED – ASX FXJ, GLENCORE PLC, KING AND WOOD MALLESONS, AUSTRALIAN TAXATION OFFICE, INTERNATIONAL CONSORTIUM OF INVESTIGATIVE JOURNALISTS, AUSTRALIAN BROADCASTING CORPORATION, BRITISH BROADCASTING CORPORATION