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Share Price: 476.00

Bid: 475.15

Ask: 475.30

Change: 12.45 (2.69%)

Spread: 0.15 (0.032%)

Open: 468.20

High: 479.65

Low: 468.20

Prev. Close: 463.55

Last checked at -

Merafe Snaps Up 21% Interest In Glencore's Unicorn Chrome

Fri, 29th May 2020 08:43

(Alliance News) - Coal miner Merafe Resources Ltd on Friday said it has concluded a deal to pick up a stake in Unicorn Chrome Pty Ltd from Glencore PLC for ZAR32.2 million.

Merafe has picked up a 21% interest in Unicorn, and lauded the deal as "a valuable addition to its chrome interests".

"Unicorn has a shareholding in a UG2 chrome concentrate producer which extracts chrome concentrate from a tailings stream in the North West Province," Merafe said.

"Merafe considers this acquisition as a long-term strategic investment which will place the company in a better position and ahead of its peers from an operational perspective. Given the cyclical nature of the mining industry, prudent cash management is crucial, especially now during Covid-19 pandemic," the company said.

Shares in the company were 1.8% higher at ZAR0.56 each in Johannesburg on Friday morning. Glencore was down 2.6% at ZAR33.21. In London, Glencore was down 1.5% at 154.90 pence each in London.

By Eric Cunha; ericcunha@alliancenews.com

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9 May 2024 16:46

Europe Distillates-Diesel margins hold steady amid thin trading

LONDON, May 9 (Reuters) - Northwest European diesel barge margins slightly rose on Thursday to $19 a barrel amid thin trading and ample supplies in the region.

Trades Bids Offers Previous Seller Buyer
Session
0.1 GO Barge
diffs fob ARA
per tonne
<GO-ED-ARA>
0.1 GO Cargo
diffs cif NEW
per tonne
<GO-CND-NWE>
0.1 GO Cargo May
diffs cif Med -$5
per tonne
<GO-CND-MED>
50ppm barge
diffs fob ARA
per tonne
<GO50PPM-ED-A
RA>

Diesel Trades Bids Offers Previous Seller Buyer
Session
Diesel barge May May Glenco Vitol,
diffs fob ARA flat +$0.25 re Total
per tonne (12.5kt)
<ULSD10-BD-AR
A>
Diesel cargo Jun
diffs cif NW $15
E
per tonne
<ULSD10-ANYD-
NWE>
Diesel cargo
diffs cif Med
per tonne
<DL-CIFD-MED>

Jet fuel Trades Bids Offers Previous Seller Buyer Session
Jet fuel May +$57
barge
diffs fob
FARAG
per tonne
<JET-BD-ARA>
Jet fuel Jun $62
cargo
cif NWE per
tonne
<JET-CD-NWE>

8 May 2024 17:46

Europe Distillates-Diesel margins continue to recover

LONDON, May 8 (Reuters) - Northwest European diesel barge margins rose by 70 cents to about $18.38 a barrel on Wednesday, extending gains from the previous session, even as U.S. distillate stockpiles registered a surprise build in the week to May 3 according to the Energy Information Administration (EIA).

Trades Bids Offers Previous Seller Buyer
Session
0.1 GO Barge
diffs fob ARA
per tonne
<GO-ED-ARA>
0.1 GO Cargo
diffs cif NEW
per tonne
<GO-CND-NWE>
0.1 GO Cargo May
diffs cif Med -$5
per tonne
<GO-CND-MED>
50ppm barge
diffs fob ARA
per tonne
<GO50PPM-ED-A
RA>

Diesel Trades Bids Offers Previous Seller Buyer
Session
Diesel barge May May Mabana Gunvor
diffs fob ARA +$0.25 -$0.50 - ft, , BP,
per tonne (12.5kt May -$1 Glenco Vitol
<ULSD10-BD-AR ) re,
A> ExxonM
obil
Diesel cargo ARA
diffs cif NW +$1,
E UK
per tonne +$3.5
<ULSD10-ANYD- 0,
NWE> Frenc
h -$5
Diesel cargo Med Petroi BGN
diffs cif Med -$3.50 neos
per tonne
<DL-CIFD-MED>

Jet fuel Trades Bids Offers Previous Seller Buyer Session
Jet fuel FBH flat May +$57
barge
diffs fob
FARAG
per tonne
<JET-BD-ARA>
Jet fuel CCM
cargo +$0.2
cif NWE per 5
tonne
<JET-CD-NWE>

8 May 2024 16:36

London close: Stocks rise further ahead of BoE decision

(Sharecast News) - London's stock markets closed with gains on Wednesday, bolstered by a dip in the value of the pound against both the dollar and the euro.

8 May 2024 13:19

Middle East Crude-Benchmarks fall, snapping two-day streak

SINGAPORE, May 8 (Reuters) - Middle East crude benchmarks Dubai, Oman and Murban fell on Wednesday after rising for consecutive days after Saudi Aramco and ADNOC raised official selling prices (OSPs) for term supplies in June.

OSP

8 May 2024 07:07

Shell to sell Singapore refinery, petrochemical assets to Chandra Asri and Glencore

SINGAPORE, May 8 (Reuters) - Shell said on Wednesday it has agreed to sell its refinery and petrochemical assets in Singapore to a joint venture between Indonesia's PT Chandra Asri Pacific and Swiss commodities trader Glencore.

7 May 2024 17:54

Europe Distillates-Diesel margins rise further

LONDON, May 7 (Reuters) - Northwest European diesel barge rose to about $17.60 a barrel on Tuesday, extending gains from the previous session

* In the Northwest European diesel barge window, eight
diesel
barges traded. Mabanaft, Unipec and BP sold to Gunvor,
TotalEnergies and Vitol.
* Despite the rise in crack spreads, the diesel market
remains weak in Europe because of slow demand and high imports from
other regions.

3 May 2024 17:53

UK's FTSE 100 hits record high as favourable data boosts sentiment

Anglo American jumps after report of Glencore interest

3 May 2024 16:52

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3 May 2024 14:09

Anglo CEO meets S.Africa mines minister after BHP's takeover proposal

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PRESS: Glencore mulls rival bid for Anglo American - Reuters

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Merafe Snaps Up 21% Interest In Glencore's Unicorn Chrome

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