Mining Major Glencore Deems Dividend ‘Inappropriate’ By Glenn Dyer |
"Unlike its rivals such as Rio Tinto, BHP, Vale, and Anglo American, Glencore PLC won’t pay a dividend for 2020 after swing to a massive interim loss off the back of billions of dollars of asset impairments."
..one excerpt.. "Glencore is suffering from a lack of any direct exposure to iron ore mining and problems with its cobalt mine in The Congo where the company has other problems."
"China’s appetite for iron ore prompts Brazilian miner Vale to explore new deep water port Vale eyes a deep-berth port in Brazil to use more of its massive Valemax ships after China last month approved four new ports to host them China wants to diversify its iron ore sources to ensure supply and keep prices down as domestic demand surges for steel amid economic recovery"
China steelmaker HBIS lines up investment in Peru iron-ore mine 3rd August 2020 BY: REUTERS
"A portfolio published by Peru's Ministry of Energy and Mines in October 2018 said Pampa de Pongo, in the Arequipa region, could produce 28.1-million tonnes of iron per year and was expected to start operations in 2023."