Super fund targets dirty dozen firms

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

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

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

Glencore still on acquisition trail

Original article by Paul Garvey
The Australian – Page: 22 : 11-Aug-17

Glencore has posted 68 per cent growth in EBITDA for the first half of 2017, to $US6.74bn, while its net debt has fallen by 11 per cent to $US13.9bn. CEO Ivan Glasenberg says the diversified resources and commodity trading group is always looking at potential acquisitions, and it would consider another bid for Rio Tinto’s Hunter Valley coal mines if Yancoal Australia’s $US2.69bn deal to buy the assets is blocked. Yancoal trumped Glencore’s own bid.

CORPORATES
GLEDHILL, BURRIDGE AND CATHRO, YANCOAL AUSTRALIA LIMITED – ASX YAL, RIO TINTO LIMITED – ASX RIO, COAL AND ALLIED INDUSTRIES LIMITED, AUSTRALIA. TAKEOVERS PANEL, SENRIGAN CAPITAL GROUP LIMITED, FIRST QUANTUM MINERALS LIMITED

Glencore puts coal haulage business on the block for $1b

Original article by Matthew Stevens, Amanda Saunders
The Australian Financial Review – Page: 21 & 26 : 17-Mar-16

Global mining company Glencore has confirmed that it will seek a buyer for its GRail coal haulage business in the Hunter Valley. It will shortly commence an auction process for the business, and it hopes to secure a deal by the September 2016 quarter. Glencore has invested around $A350m in the GRail business, which boasts EBITDA of $A100m. Potential buyers could include US-based Genesee & Wyoming, whose Freightliner subsidiary operates GRail on behalf of Glencore.

CORPORATES
GLENCORE PLC, GRAIL, GENESEE AND WYOMING INCORPORATED, FREIGHTLINER GROUP LIMITED, ASCIANO LIMITED – ASX AIO, PACIFIC NATIONAL PTY LTD, XSTRATA AG, RBC CAPITAL MARKETS, UGL LIMITED – ASX UGL, BHP BILLITON LIMITED – ASX BHP

Glencore puts Cobar mine up for sale

Original article by Peter Ker
The Australian Financial Review – Page: 16 : 13-Oct-15

Debt-laden Glencore is seeking to offload the Cobar copper mine in central western New South Wales. The mine’s output for the first half of 2015 was 24,800 tonnes of copper concentrate and 239,000 ounces of silver. Glencore’s Lomas Bayas copper mine in Chile has also been put on the market, and an unnamed analyst based in London says neither of the assets are likely to be of interest to major mining groups.

CORPORATES
GLENCORE PLC, BLOOMBERG LP, RIO TINTO LIMITED – ASX RIO, XSTRATA AG, X2 RESOURCES PARTNERS LP

Glencore still harbours desires for Rio Tinto

Original article by Amanda Saunders
The Australian Financial Review – Page: 13 & 18 : 5-Jun-15

A merger with Rio Tinto remains on the agenda for Glencore, although the group has indicated that it would also favour acquiring Rio’s iron ore or coal divisions. Peter Freyberg, the head of Glencore’s coal division, has highlighted the potential synergies arising from thermal coal acquisitions or joint ventures in the Hunter Valley region of New South Wales.

CORPORATES
RIO TINTO LIMITED – ASX RIO, GLENCORE PLC, PEABODY ENERGY AUSTRALIA COAL PTY LTD, BHP BILLITON LIMITED – ASX BHP, THE MELBOURNE MINING CLUB

‘No way’ to a Glencore-Rio merger: Hockey

Original article by Amanda Saunders
The Australian Financial Review – Page: 17 & 22 : 9-Apr-15

The prohibition on Glencore executives commenting on a bid for Rio Tinto lapsed on 8 April 2015, six months after Rio rejected a takeover approach. Glencore is tipped to make another bid for Rio, but Australian Treasurer Joe Hockey is believed to have explicitly ruled out Federal Government approval for such a deal. His comments are said to have been made at a private meeting with business leaders and mining industry executives in late March

CORPORATES
RIO TINTO LIMITED – ASX RIO, GLENCORE PLC, AUSTRALIA. DEPT OF THE TREASURY, MINERALS COUNCIL OF AUSTRALIA, BUSINESS COUNCIL OF AUSTRALIA, BHP BILLITON LIMITED – ASX BHP, ARCHER DANIELS MIDLAND COMPANY, GRAINCORP LIMITED – ASX GNC, AUSTRALIA. FOREIGN INVESTMENT REVIEW BOARD, ALUMINIUM CORPORATION OF CHINA LIMITED

Glencore takes aim at iron ore giants

Original article by Amanda Saunders
The Australian Financial Review – Page: 28 : 5-Mar-15

Glencore will reduce its coal production in Australia by 15 million tonnes in 2015. CEO Ivan Glasenberg says the decision to reduce output by around 15 per cent was made because the group does not want to be seen to have forced coal prices lower due to oversupply. Glasenberg has previously criticised BHP Billiton and Rio Tinto for expanding their iron ore production at a time prices have fallen sharply

CORPORATES
GLENCORE PLC, BHP BILLITON LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO, FORTESCUE METALS GROUP LIMITED – ASX FMG, VALE SA

‘Opportunistic’ buyer Glencore still on acquisition hunt

Original article by Peter Ker
The Australian Financial Review – Page: 13 & 18 : 15-Dec-14

Glencore chairman Tony Hayward is not expected to discuss a potential merger with Rio Tinto during a visit to Australia in mid-December 2014. Rio Tinto revealed in early October that Glencore had approached the group about a merger, and Switzerland-based Glencore is widely tipped to make another approach in 2015. Glencore CEO Ivan Glasenberg recently indicated that the group remains keen to pursue acquisitions

CORPORATES
RIO TINTO LIMITED – ASX RIO, GLENCORE PLC, BHP BILLITON LIMITED – ASX BHP, NICKEL WEST, BANK OF MONTREAL, VALE SA, AUSTRALIAN INSTITUTE OF COMPANY DIRECTORS