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Bad Bets Sock Mining Giant
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Glencore is faced with falling prices of copper and other metals, declining profits from commodities trading, and a high net debt load of $30 billion. CEO Glasenberg is losing credibility with investors with a sharp decline in the share price, especially as the commodities trading operations are not able to cushion the fall in commodities prices. Commodities trading division adjusted profits for the 1st half showed 29% decline to $1.1 billion. Its share price declined 10% on August 19, 2015. Glasenberg is the second largest shareholder after the Qatar sovereign wealth fund, Qatar Holding LLC. The company went public in 2011, and acquired Xstrata in 2013. Since 2014 Glencore has lost half its market value as prices of metals fell sharply. The company is based in Baar, Switzerland. Glencore's results for the first half of 2015 showed anet loss of $676 million compared to profit of $1.72 billion in the prior year. Revenue declined by 25% to $85.71 billion.
Glencore International
04/12/2011
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Wall Street Journal 05/02/2013
Glencore Xstrata Rolls Out Integration Plan
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Glencore Xstrata to Cut Spending
Wall Street Journal 09/11/2013
Glencore Xstrata Sells Las Bambas Mine to Chinese Consortium
Wall Street Journal 04/14/2014
Las Bambas Deal Gives Glencore Needed Flexibility
Wall Street Journal 04/15/2014
Glencore Xstrata management
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Grouped Articles
Glencore Xstrata CEO: Expect Big Layoffs
Wall Street Journal 05/03/2013
Wall Street Journal 05/02/2013
Glencore Xstrata Rolls Out Integration Plan
Wall Street Journal 05/07/2013
Glencore Xstrata Appoints Hayward as Interim Chairman
Wall Street Journal 05/17/2013
Glencore Xstrata to Cut Spending
Wall Street Journal 09/11/2013
Glencore Xstrata Sells Las Bambas Mine to Chinese Consortium
Wall Street Journal 04/14/2014
Glencore Xstrata strategies
05/02/2013
Grouped Articles
Glencore Xstrata CEO: Expect Big Layoffs
Wall Street Journal 05/03/2013
Wall Street Journal 05/02/2013
Glencore Xstrata Rolls Out Integration Plan
Wall Street Journal 05/07/2013
Glencore Xstrata to Cut Spending
Wall Street Journal 09/11/2013
Glencore Xstrata Sells Las Bambas Mine to Chinese Consortium
Wall Street Journal 04/14/2014
Las Bambas Deal Gives Glencore Needed Flexibility
Wall Street Journal 04/15/2014
Glencore-Xstrata merger talks
02/03/2012
Grouped Articles
Glencore Xstrata CEO: Expect Big Layoffs
Wall Street Journal 05/03/2013
Wall Street Journal 05/02/2013
Glencore Xstrata Rolls Out Integration Plan
Wall Street Journal 05/07/2013
Glencore Xstrata to Cut Spending
Wall Street Journal 09/11/2013
Wall Street Journal 08/20/2015
Glencore Finds Cash but Not Comfort
Wall Street Journal 08/20/2015
Glencore share price performance
08/14/2015
Grouped Articles
Glencore Needs Reinforcement Against Commodities Slump
Wall Street Journal 08/14/2015
Wall Street Journal 08/20/2015
Glencore Finds Cash but Not Comfort
Wall Street Journal 08/20/2015
Glencore, Battered Mining Giant, Retreats
Wall Street Journal 09/08/2015
Glencore’s Capital Call Just Gives More Reasons for Soul-Searching
Wall Street Journal 09/08/2015
Glencore Shares Plunge as Debt Fears Rattle Investors
Wall Street Journal 09/29/2015
Glencore Xstrata performance
05/02/2013
Grouped Articles
Glencore Xstrata CEO: Expect Big Layoffs
Wall Street Journal 05/03/2013
Wall Street Journal 05/02/2013
Glencore Xstrata Rolls Out Integration Plan
Wall Street Journal 05/07/2013
Glencore Xstrata to Cut Spending
Wall Street Journal 09/11/2013
Hard Labor Needed for Mining Renaissance
Wall Street Journal 01/22/2014
Glencore Xstrata Sells Las Bambas Mine to Chinese Consortium
Wall Street Journal 04/14/2014
Glencore-Xstrata asset divestment
04/14/2014
Grouped Articles
Glencore Xstrata Sells Las Bambas Mine to Chinese Consortium
Wall Street Journal 04/14/2014
Las Bambas Deal Gives Glencore Needed Flexibility
Wall Street Journal 04/15/2014
Glencore Needs Reinforcement Against Commodities Slump
Wall Street Journal 08/14/2015
Wall Street Journal 08/20/2015
Glencore Finds Cash but Not Comfort
Wall Street Journal 08/20/2015
Glencore, Battered Mining Giant, Retreats
Wall Street Journal 09/08/2015
Xstrata PLC
04/13/2006
Grouped Articles
Wall Street Journal 05/02/2013
Wall Street Journal 08/20/2015
Boom Times for Mining Giant Signal Deep Changes in Sector
Wall Street Journal 04/13/2006
Wall Street Journal 02/03/2012
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