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Glencore plc (GLNCY)
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Copper soaring again and DRILL RESULTS JUST HIT! Combined with new and previous drill assays high-grade copper is indicated with bonus of cobalt that is worth at least as much as the copper.
up 50% from my buy 6 months ago
the old adage..LMAO
i just wish i bought more
Glencore pays $1.5B penalty.
23 cents per share.
That feeling you get when you went balls deep In this stock when it was at 160p in 2020…
‼️ INTERNATIONAL CORRUPTION CHARGES
Commodities giant Glencore has agreed to plead guilty to corruption charges in the United States and Britain.
👉 The company will pay more than one billion U-S dollars to end a five-year investigation into corporate malpractice.
👉 Glencore is also being investigated by Swiss and Dutch authorities.
U-S attorney general, Merrick Garland, said the pleas from Glencore came in two separate criminal cases.
"In connection with the first plea, Glencore has agreed to pay approximately seven hundred million dollars and penalties for its decade long scheme to bribe foreign officials in seven different countries," he said.
"The second plea involves Glencore's US commodities trading arm which engaged in a scheme to manipulate fuel oil prices."
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Disappointing share price movement in the past 4 days. Still confident that this will hit 600p sometime this year.
did they already pay the 1.1 billion for the bribery? Waiting to see how that affects the stock & if i can buy it cheaper
Why is this dropping?
Glencore to supply cobalt to GM in multi-year deal...i DID say they are kings of cobalt
Big deal, they call corruption paying African and Latin countries which most are more corrupt than a lawyer/politician mixed breed. I mean that’s are you supposed to do business in these countries 🤷🏻♂️￼
I recently got in have added . does no one know about this stock ? the news today was baked in a little but no real move .
What does the sale of 100,000 Tesla 3's mean for Glencore, and the other mining companies? As part of the 4.2 billion deal there is also an announcement that Hertz will be building its own charging network! This means thousands of miles of heavy copper conductors as charging stations go mainstream and our power distribution grid faces massive new demand challenges. The demand for materials like Copper, silver and cobalt is creating shortages and a commodities pricing boom.
Look for there to be some consolidation in the mining business as money is cheap and available for the big boys like Glencore that control huge amounts of commodities!
to the 🌚 next year
Regarding our limited sanctions on Russia, we are being lied to by our government and our complicit and/or incompetent media. Americans have been taught over and over again, until they finally just believed it, that Russia is no more than "a gas station masquerading as a country" (John McCain). Over and over again, we are fed that lie. We are incessantly told that all Russia produces is oil and gas.
In the current environment where governments all over the world are being pressured to sanction Russia, this old lie has become very convenient here in the United States. It allows the administration and Congress to act as if they are already doing everything they possibly can with the energy sanctions. Our government and the complicit and/or incompetent media conveniently don't tell the public that Russia is a commodity powerhouse producing many, many commodities other than oil that make the world go around and even feed people. When you add up all the non-energy commodities Russia exports, they all add up to a massive amount (if not quite as large as the energy exports, they are not all that far behind). But our government doesn't want us to know about that. They would prefer that we believe they are already doing everything they possibly can. Well guess what? They aren't. What they could certainly be doing is sanctioning all Russian commodities, not just energy.
Of course, our government doesn't want to do that because of the horrible economic shock it would have on our country, perhaps making the re-election of many currently in power seem a little less likely. The only reason the U.S. could so easily sanction Russian energy is because we hardly ever imported much of the stuff. It was a drop in the bucket. But the fact is that Russia is also a major global exporter of wheat, fertilizer, nickel, aluminum, copper, steel, platinum group metals (especially palladium -- 40% comes from Russia), cobalt, vanadium, and many, many other things necessary for industry (including U.S. industry). If and when the media ever become more informed and/or less complicit, perhaps they will finally tell a largely uninformed public that there is a whole whole lot more we could be sanctioning. And considering the recent atrocities displayed all over our television channels, perhaps once Americans find out that our government has hardly done anything sanctions so far compared to what they could or should be doing... perhaps then they might just pressure our government to do a whole lot more.
Below are just a few of the many stocks that would rally hard if sanctions on Russian commodities ever expand from just oil and gas:
$GLNCY (copper, nickel, cobalt, zinc, lead, coal) $NHYDY (low-carbon, hydropower-produced aluminum) $SQM (fertilizer, iodine, lithium) $PALL (physical palladium ETF) $SMMYY (nickel, cobalt) $AA (aluminum) $FCX (copper) $MOS (fertilizer)
Read: “The World for Sale” by journalists Javier Blas and Jack Farchy. Exceptionally well written and researched review of the evolution of commodity trading over the past three decades. GLNCY is a key protagonist.
Significant news for Glencore, Newmont and Yamana Shareholders: On February 26th Lundin announced that it would commence construction on its $3.09 billion Josemaria, coppper/gold/silver mine in Argentina next year. Commissioning will be in 2026. No large scale copper/gold/silver mine has been approved in Argentina since Alumbrera (now part of MARA) in 1995. This marks a huge milestone for the valuation of the MARA project as approval is now far more likely by the Argentine government. MARA is jointly owned by Glencore 25%, Newmont 18.75% and Yamana 56.25% and is the sixth largest undeveloped Copper/ Gold/Silver/Molybdinum/Rhenium prospect in the world.
Glencore is such a behemoth. In examination of top 5 metal producers Glencore ranks in cobalt, silver, copper and nickel. It will take a lot to move this giant, but there is a lot of value here. I don't own for spikes or a quick buck. I have speculative mining plays. Then I have Glencore. Happy to see it moving some. But I don't worry too much about this top 10 of Forbes Fortune 500 and one of the only major commodity traders to be publicly available.
A startup backed by a group of tycoons including Bill Gates plans to use data-crunching algorithms to search for cobalt near a Canadian nickel mine owned by Glencore Plc.
Kobold Metals has acquired rights to an area of about 1,000 square kilometers (386 square miles) -- roughly the size of New York City -- in northern Quebec, according to Chief Executive Officer Kurt House. It’s the first such foray by the company to become public.
San Francisco Bay Area-based Kobold Metals is hoping to use data analytics to build a “Google Maps for the earth’s crust.” The company is betting it can find metals crucial to the electric-vehicle revolution, such as cobalt, that so far have eluded more traditionally-minded geologists.
Read: Algorithms Join Cobalt Hunt Backed by Gates, Bezos and Dalio
Why is no one talking about Glencore X Tesla pending deal???
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