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Troajan yeah but dont wait too long people will start to load up early fomo ;')
the dollars rallying,up 0.60%...so not good news for metal prices.
toooooo early for loadin up..imo.
Qz.yep hold tight and load up on your trades
2018? Funny how glencore ignored it for 12 months ? Perhaps now with new management things like this will get resolved quicker..glencore now then point of entry is this a small correction across the board or some thing bigger? Going off the charts obviously not counting last year we should/could see a rise back up as people load up for the next rise or the next painful drop who fecking knows woth these markets
The details.
(Alliance News) - A complaint by rights groups over a toxic spill at an oil site in Chad linked to the British subsidiary of mining giant Glencore PLC has cleared a hurdle in the UK, Britain's trade ministry said.
The case relates to an accident in September 2018 at the Badila oilfield in southern Chad, when an earth bank supporting a wastewater basin collapsed.
The equivalent of 34 Olympic-sized swimming pools of contaminated water spilled into fields and a local river, killing livestock and fish and causing at least 50 local people to fall sick with skin lesions, vomiting and diarrhoea, the groups say.
They are demanding compensation from Glencore UK, a subsidiary of the Swiss-based mining leviathan that was in business with a local oil firm, PetroChad (Mangara), or PCM.
A unit of Britain's Department for International Trade said the complaints "merit further examination".
If a mediated agreement cannot be found, the DIT's NCP unit "will examine further the claims about the company's conduct in order to reach a finding as to whether the company breached" OECD guidelines, it added.
The NCP is the UK's National Contact Point – an agency set up by OECD governments to intercede in complaints about international business.
It highlighted that for now, "the decision to further examine the claims about Glencore UK's conduct is not a finding against the company."
Anneke Van Woudenberg, executive director of one of the complainant groups, the UK campaign organisation Rights & Accountability in Development, told AFP that the decision was "very important step" towards resolving the complaint.
"We have been trying to communicate with Glencore for more than a year" over taking measures, she said.
The two other groups in the complaint are the Chad-based Public Interest Law Center and the Association of Young Chadians in the Oil Zone.
Glencore UK, in its submission, had argued that its local partner PCM had "first-hand knowledge of the issues as they arose" and had already made "a considerable effort" to respond to concerns, it said.
Glencore has been exploiting oil in Chad since 2013. The following year, the Chadian state signed a loan with the company.
In a statement to AFP, Glencore said it "acknowledges the decision" by the NCP and said it had been "transparent about the incident."
"Action has been taken," it said.
Glencore shares closed 6.7% lower at 238.00 pence each in London on Wednesday. In Johannesburg, the stock fell 6.9% to ZAR49.49.
source: AFP
Copyright 2021 Alliance News Limited. All Rights Reserved.
Bounce tomorrow or Friday? Or more down then up next week...its a gamble...its more like a casino than ever now
This is how MMs suck you in bouncing it off £2.72 then boom your stopped or holding at a paper loss now the wait for the next push up i can't see them taking back under £2 that would be crazy given there is a possoble dividend to come from glemcore in May and copper as been riding high zinc nickel EVs there is no stopping them now
What Glencore is experiencing is the result of a toxic spill at an oil site in Chad, not a "short term correction".
I think Glencore's SP is experiencing a short term correction. Due to the fact, the stock has been overbought on the daily RSI since mid-Nov. Also, the SP increasing by nearly 90% in 2 1/2 months. I think we should start to bottom out above the 230-235 level and we do have Drilling report (3rd Feb) + Final Results (16th Feb) due next month. Which should give us some insight into how well the company is performing.
ouch! where is the bottom of this downward spiral? The sp rise over the past 2 months has been fantastic, but the past few days has been catastrophic. Hoping this is just a temporary blip due to Chinese New Year when everything shuts down for a few days over there. Copper prices remain high, Biden's imminent stimulus likely to depreciate USD which is good for China when it comes back online after New Year. It's gonna have to be medium hold and hope for reintroduction of dividend
Sold All my shares 283 then bought it back 273 since 3 says nearly 4K lost ??