Glencore lifts head

MINEX FORUM | February 24, 2017
img0 Commodities trader and miner Glencore (GLEN.L) reported an 18 percent rise in 2016 profit on Thursday, buoyed by a rebound in raw material prices, and said it had never been better-placed financially, signalling a readiness for small purchases or a special dividend payout, finance.yahoo.com reported. Glencore’s earnings before interest, tax, depreciation and amortisation (EBITDA) were ...

US start-up considers mining as the first priority market for wearable devices

MINEX FORUM | February 22, 2017
img0 Image: mining-journal.com The CEO of a Los Angeles start-up sees the mining industry as a “prime” segment of a global enterprise wearables market that could be worth up to US$5 billion within a few years, mining-journal.com reported. Rufus Labs co-founder Gabe Grifoni told Mining Journal the small company was currently engaged in several product trials in the ...

Glencore purchased Mutanga and Katanga for US$534 million in cash and debt

MINEX FORUM | February 14, 2017
img0 Glencore purchased from subsidiaries of Fleurette Properties Limited (“Fleurette”) the Fleurette group’s remaining 31% stake in Mutanda Mining Sarl (the “Mutanda Shares”) and an approximate 10.25% stake in Katanga Mining Limited (the “Katanga Shares”), Glencore reported. The consideration for the Mutanda Shares and the Katanga Shares has been determined based on an analysis by BMO ...