Last week Glencore warned that some buyers in China reneged on contracts after seeing prices plunge, forcing the company to renegotiate the commercial terms of the deals.
BHP Group may be heading for another clash with investors as the world’s biggest miner gets closer to a decision on whether to build, sell or mothball.
Given the economics and how the conversation around coal has shifted, you might as well try to push these banks into rotary phones or horse-drawn carriages.
Project Halo will buy Optimum Coal Mine (Pty) Ltd, Koornfontein Mines (Pty) Ltd and Optimum Coal Terminal (Pty) according to the term sheet seen by Bloomberg.
High risk, high reward is the bet being made by global lithium miners in Argentina who are brushing aside a recession, a currency crisis and political uncertainty in their hunger for the mineral that helps power electric cars.
Glasenberg, a workaholic, straight-talking South African who has become the public face of the commodity trading industry, has led Glencore for nearly two decades.