Glencore plc

Glencore To Buy Aluminium From Rusal: Sources

Glencore To Buy Aluminium From Rusal: Sources

Sources claiming knowledge of the situation say Glencore plc will buy aluminium for embattled Russian aluminium firm UC Rusal according to comments published in a wire service. Reuters reported on Thursday that two individuals with direct knowledge of the situation informed them...

Events

Sanjeev Gupta’s GFG Alliance Under Investigation By French Officials For Dunkirk Aluminium Smelter Funding Deal

Sanjeev Gupta’s GFG Alliance is facing an investigation by French authorities into allegations that the firm may have been involved in misuse of corporate assets and money laundering, among other charges. This week’s revelation is yet another blow to GFG Alliance, which has been navigating the stormiest of seas since major financial backer Greensill Capital […]

GFG Promises Legal Action Against AIP To Regain Dunkirk Aluminium Smelter

GFG Group pledged on Tuesday to fight back against an ownership transfer of Dunkirk aluminium smelter to American Industrial Partners (AIP) that occurred last week due to GFG Group’s default on a loan to AIP. GFG said in a statement that it will pursue legal avenues against AIP’s transfer, accusing it of acting in bad […]

GFG Alliance In Talks With Glencore Over Refinancing Aluminium Assets’ Debt

The struggle to keep Gupta Family Group Alliance’s assets funded continued last week as its head Sanjeev Gupta continued talks with Glencore plc to refinance the debt of GFG Alliance’s aluminium assets in Europe. Sources told AlCircle over the weekend that Glencore is in talks with GFG Alliance to refinance its over US$500 million in […]

Aluminium Of Greece Inks Power, Offtake Agreements

Greek metals conglomerate Mytilineos S.A. has inked agreements for both power provision and offtake for its subsidiary Aluminium of Greece according to a company officer. Mytilineos president and CEO Evangelos Mytilineos said on a conference call that it now has a power agreement with PPC that runs until 2023. Upon the contract’s expiration, Aluminium of […]

Mitsubishi To Buy 30 Percent Stake In Glencore’s Aurukun Bauxite Project

Japanese conglomerate Mitsubishi Corporation announced last week an agreement with Glencore plc to take a 30-percent share of the latter’s Aurukun Bauxite Project in Australia. No price terms were given by either party at the time of announcement. Though Mitsubishi currently has interests in the aluminium smelting and trading sector, the purchase will mark the […]