Glencore on bloomberg1 Nov 2018 18:09
Glencore Is Going to Get Crazy Rich on Coal Next Year.Glencore Plc’s coal mining business will eclipse its copper unit next year and become the world’s biggest commodity trader’s most profitable operation.
Despite making a lot of noise about its electric vehicle-focused mines such as nickel, copper and cobalt, Glencore has continued to buy more coal assets, adding rival Rio Tinto’s Australian operations to its portfolio this year. That, along with soaring coal prices, will see profit jump to $6.2 billion next year, according to a presentation