Glencore bets on copper with $21M investment in Brazilian producer
Glencore (LON:GLEN) has placed a multi-million-dollar bet on copper by investing just over US$21 million (GBP 16.16 million) into Brazilian copper producer Paranapanema (PMA).
Significant volumes of unwanted Russian-origin copper have been deposited in London Metal Exchange approved warehouses in Germany, the Netherlands and Taiwan since the middle of September.
Some of the biggest copper mines in the world are turning to different ways to get their metal to port after an increase in train robberies spurred the suspension of rail services in northern Chile.