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Pin to quick picksGlencore Share News (GLEN)

Share Price Information for Glencore (GLEN)

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Share Price: 455.00
Bid: 455.70
Ask: 455.90
Change: -3.70 (-0.81%)
Spread: 0.20 (0.044%)
Open: 451.15
High: 457.80
Low: 449.30
Prev. Close: 458.70
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TOP NEWS: Glencore Notes Lockdown Extensions But Plans Quebec Restart

Tue, 14th Apr 2020 09:39

(Alliance News) - Glencore PLC on Tuesday noted the extension of a quarantine in Colombia and the lockdown in South Africa, amid the Covid-19 pandemic, as well as the decision to halt operations for two weeks at its Antamina joint venture in Peru.

More positively, although the government of Quebec, Canada, has extended its order for non-essential businesses to stay closed until May 4, mining is considered to be "an essential activity" starting April 15. As such, Glencore's Raglan nickel and Matagami zinc operations in Quebec are currently "analysing options to restart operations" before May 4.

Colombia's president imposed a 19-day quarantine starting March 25, which has been subsequently extended to April 27. Glencore's wholly owned Prodeco unit, which operates in Colombia, will keep its mining operations on care and maintenance while continuing to operate the Puerto Nuevo port.

As with Colombia, South Africa has extended its lockdown to April 30. Glencore's ferroalloys operations and its Middleburg and Graspan coal operations are still on care and maintenance.

Meanwhile, in Peru, operations at the miner's Antamia joint venture, in which Glencore holds a 34% stake, are being halted for around two weeks. The workforce at Antamina has also been demobilised for two weeks and "the camp will be thoroughly disinfected and increased protocols put in place for those arriving at/departing from site". Protocols include social distancing measures and enhanced medical screening.

In Zambia, after subsidiary Mopani Copper Mines announced it was transitioning its mining operations to care and maintenance, Glencore is now in talk with the Zambian government for a "way forward".

"For all our offices and industrial assets that are continuing to operate, we continue to implement various additional precautionary measures to protect our employees. We recognise the uncertainty caused by the current environment and endeavour to support our workforce and local communities, as appropriate," Glencore said.

"Our local teams are working closely with governments, health agencies and other key responders to identify their needs to provide the most effective response possible. In order to support these efforts, we recently launched the USD25 million Glencore Community Support Fund. This fund will complement existing efforts by our local teams to provide the support their communities need most at this time," the company added.

Shares in Glencore were up 2.5% at ZAR33.07 in Johannesburg on Tuesday and were up 1.8% at 147.31 pence in London.

By Anna Farley; annafarley@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

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Trades   Bids   Offers  Previous  Seller  Buyer
Session
0.1 GO Barge April
diffs fob ARA -$29.0
per tonne 0
<GO-ED-ARA>
0.1 GO Cargo
diffs cif NWE
per tonne
<GO-CND-NWE>
0.1 GO Cargo
diffs cif Med
per tonne
<GO-CND-MED>
50ppm barge May
diffs fob ARA +$2.0
per tonne 0
<GO50PPM-ED-A
RA>

Diesel Trades Bids Offers Previous Seller Buyer
Session
Diesel barge May -$2 April April Apr
diffs fob ARA to -$4 Flat -$1/+2 -$0.25-+
per tonne .00 $1
<ULSD10-BD-AR
A>
Diesel cargo 2 May Litasc Glenco
diffs cif NWE cargoes +$20.2 o re
per tonne at May 5
<ULSD10-ANYD- $12.50
NWE>
Diesel cargo Med Med
diffs cif Med +$6.0 +$0.75
per tonne 0
<DL-CIFD-MED>

Jet fuel Trades Bids Offers Previous Seller Buyer Session
Jet fuel
barge
diffs fob
FARAG
per tonne
<JET-BD-ARA>
Jet fuel CCM CCM
cargo -$4 -+2
cif NWE per
tonne
<JET-CD-NWE>

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*

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Trades   Bids   Offers  Previous  Seller  Buyer
Session
0.1 GO Barge April
diffs fob ARA -$22
per tonne
<GO-ED-ARA>
0.1 GO Cargo
diffs cif NWE
per tonne
<GO-CND-NWE>
0.1 GO Cargo May
diffs cif Med +$6
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 April April Shell, BP,
diffs fob ARA +$0.75- +$2-$3 Litasc Glenco
per tonne $2.25 (25.32KT o, re,
<ULSD10-BD-AR (32.45K ) ExxonM Gunvor
A> T) obil, ,
Mabana TotalE
ft nergie
s,
Vitol
Diesel cargo April Shell Vitol
diffs cif NWE +$13
per tonne (Amster
<ULSD10-ANYD- dam)
NWE>
Diesel cargo
diffs cif Med
per tonne
<DL-CIFD-MED>

Jet fuel Trades Bids Offers Previous Seller Buyer Session
Jet fuel
barge
diffs fob
FARAG
per tonne
<JET-BD-ARA>
Jet fuel CCM
cargo flat
cif NWE per
tonne
<JET-CD-NWE>

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Trades   Bids   Offers  Previous  Seller  Buyer
Session
0.1 GO Barge Apr -$21
diffs fob ARA
per tonne
<GO-ED-ARA>
0.1 GO Cargo
diffs cif NWE
per tonne
<GO-CND-NWE>
0.1 GO Cargo April
diffs cif Med +$6.5
per tonne 0
<GO-CND-MED>
50ppm barge April
diffs fob ARA -$2
per tonne
<GO50PPM-ED-A
RA>

Diesel Trades Bids Offers Previous Seller Buyer
Session
Diesel barge April Apr Shell, BP,
diffs fob ARA +$2.54 $2-$4 Belgom Vitol,
per tonne (34.85K ine Glenco
<ULSD10-BD-AR T) re,
A> Gunvor
,
Totsa
Diesel cargo April Shell BP
diffs cif NWE +$14
per tonne (CIF
<ULSD10-ANYD- Thames)
NWE>
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diffs cif Med +$3
per tonne
<DL-CIFD-MED>

Jet fuel Trades Bids Offers Previous Seller Buyer Session
Jet fuel CCM
barge -$6
diffs fob
FARAG
per tonne
<JET-BD-ARA>
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