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The Latest Breaking News from Glencore

Copper Under Pressure As Codelco Cuts Guidance, Glencore Faces Mounting Costs

The global copper market is digesting the latest risks, as multi-dimensional challenges emerge in key jurisdictions. Codelco, the world’s largest copper producer, has lowered its 2025 output forecast to a range of 1.31 to 1.32 million metric tons, down from its previous estimate of 1.34 to 1.37 million tons.

Benzinga

US Cancels $500 Million Cobalt Tender, Bessent Points To More Equity Stakes

The US has canceled a $500 million tender to purchase cobalt. The decision came after multiple extensions, less than two months after launching the initiative.

Benzinga

Miners prosper as FTSE 100 makes steady progress

On the FTSE 100, gold miners Fresnillo and Endeavour Mining leapt 9.1% and 11% respectively.

Evening Standard

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If government bailouts of companies are the new normal, we need a better strategic vision

The federal government’s announcement of a A$600 million rescue package for Glencore’s copper smelting and refining operations in Mount Isa and Townsville marks a definitive shift in Australia’s industry policy.

The Conversation

Hands out for handouts: bailouts loom for more smelters

More taxpayer bailouts could be on the horizon for ailing facilities after a $600 million lifeline to one mining giant.

AAP

'Back them': PM's blunt message after smelter bailout

Mining giant Glencore has been urged to invest in a struggling community after a $600 million taxpayer-funded bailout to secure hundreds of jobs at a smelter.

AAP

Copper and oil gains aid FTSE 100 after lacklustre opening

The FTSE 100 index closed up 27.11 points.

Evening Standard

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FTSE 100 up as Anglo American strikes Teck deal

The FTSE 100 index closed up 21.09 points, or 0.2%, at 9,242.53.

The Independent UK

Anglo American stock rises 9% after merger deal with Teck Resources

The tie-up is set to be the biggest mining sector merger in over a decade.

Euronews

Taxpayer bailouts are common, yet rarely make economic sense. Here’s how to strike a better balance

Most market economists oppose the idea of large corporate bailouts, where taxpayer funds are used to provide failing companies with financial assistance.

The Conversation

Loan ‘irregularities’ led to collapse of Prax Lindsey oil refinery

Administrator was appointed after parent company State Oil given new information about £783m loan

The Guardian - UK

FTSE eases on weak US data as Ukraine peace summit looms

Donald Trump and Vladimir Putin will meet later in Alaska.

Evening Standard

Plan to extend Queensland coalmine would bulldoze ‘critical’ koala habitat

Glencore says it is working with state and federal governments to minimise the impact of flora and fauna in the 680ha area west of Mackay

The Guardian - AU

Coal mine project threatens 'significant' koala habitat

A drone investigation by conservation groups and ecologists has found an important koala colony living in the path of a proposed coal mine expansion.

AAP

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The Independent UK

Boost for London Stock Exchange as £35bn mining company U-turns on move to US

Glencore said earlier this year they were headed Stateside - but valuation concerns have prompted a rethink

Evening Standard

Glencore to stick with main listing in boost to London market

The Swiss mining giant also warned over job losses as it aims to cut costs by the end of 2026.

The Guardian - UK

Miner Glencore decides against moving stock market listing from London to US

Company, which has reported 37% drop in profits, says switch would not present value for shareholders

The Independent UK

Business news live: Novo Nordisk hit by slowing Ozempic sales, Tesla shareholders sue Musk over Robotaxi

Stock market news and latest business and finance updates from Wednesday

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AAP

Smelter owners urged to put more on the table

The federal government has not ruled out any support measures as it calls on a mining giant to step up and save a copper smelter in regional Australia.

AAP

'Economic death spiral' fear over ailing copper smelter

A delegation is visiting Canberra to plead for a bailout for the copper industry to prevent an "economic death spiral" in north Queensland.

Evening Standard

FTSE 100 climbs as earnings cascade brings cheer

Shares of Games Workshop, AstraZeneca, Barclays and Entain moved higher.

AAP

Copper smelter rescue talks approach melting point

Closure of a copper smelter and refinery would be a "national disgrace" says a treasurer calling for their operator and federal government to come to the table.

The Guardian - UK

UK watchdog investigates eight years of Deloitte audits of mining firm Glencore

FRC examines whether accounting firm ‘gave sufficient consideration to risk of non-compliance with laws’

AAP

Thousands of jobs at risk as miner pleads for support

A major mining company says it might have to mothball two of its operations, putting thousands of jobs in danger, if more government support is not offered.

Evening Standard

London stocks close higher as latest US tariff rates received

The FTSE 100 index closed up 47.65 points, 0.5%, at 8,854.18.

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