RE: I Did say22 Feb 2024 20:36
Glencore profits dropped by three-quarters in the year just ended as coal and metal prices fell and trading income was also reduced.
Revenues in 2023 were 15% lower than a year ago at US$217bn, while profits from its production arm were down by 52% and in trading by 46%.
In total, net income fell 75% to US$4.3 billion, which included impairment charges for the Mutanda cobalt operation and several zinc properties due to lower price assumptions.