Glencore

Glencore and Rusal Ask LME to Lift Suspension on Trading of Rusal’s Aluminium

Glencore and Rusal Ask LME to Lift Suspension on Trading of Rusal’s Aluminium

Citing the Trump administration’s extension for complying with the sanctions it placed upon U.C. Rusal, Anglo-Swiss mining and trading firm Glencore plc has joined with the Russian miner in petitioning the London Metal Exchange to temporarily lift the suspension on Rusal’s aluminium....

Events

Rio Tinto on Verge of Selling Pacific Aluminium to GFG Alliance

Anglo-Australian mining giant Rio Tinto Group is reportedly in talks with Sanjeev Gupta’s Gupta Family Group (GFG) Alliance for the sale of Rio’s aluminium operations in Australia and New Zealand. A report by the Financial Times indicates that sources tell them that Gupta is flying to Australia to participate in discussions regarding Pacific Aluminium (PacAl) […]

Trump’s Argument Against Cheap Chinese Aluminium Has Merit: Glencore CEO

The CEO of Anglo-Swiss miner and commodities firm Glencore plc told a Florida audience that United States president Donald Trump “has a point” in calling out the powers that be in Beijing over their policies regarding the production and export of aluminium and steel. Ivan Glasenberg spoke as part of a Bloomberg Television panel at […]

Bankruptcy Court Judge Ratifies Closure Agreement for Sherwin Alumina

Seven-hundred fifty-five days after the lockout began, an agreement to officially close Sherwin Alumina Co.’s plant in Texas is finally in place. A bankruptcy judge approved the agreement on Thursday, which will allow for the payment of severance benefits to the plant’s union workforce. U.S. Bankruptcy Court judge David R. Jones executed an order releasing […]

Federal Court Judge Dismisses Aluminium Antitrust Litigation Against Glencore, et al.

A federal court judge in Manhattan dismissed an antitrust lawsuit brought by aluminium buyers against The Goldman Sachs Group, Inc., JPMorgan Chase & Co., and Glencore plc. The three-year-long lawsuit alleged that the three firms colluded to restrict aluminium supplies and artificially drive up prices. U.S. District Judge Katherine B. Forrest handed down her ruling […]

Rusal’s Aughinish Alumina Back in Black in 2015

The Republic of Ireland’s Aughinish Alumina plant pulled off an astounding reversal in its bottom line, reporting a US$14.4 million pretax profit one year after turning in a US$12.1 million loss. According to financials, the plant’s turnovers dropped four percent, from US$719 million to US$688 million. “The alumina refinery operation was steady and reliable throughout […]