Glencore shares fall as profits plunge 92%
Low prices, operational setbacks and higher costs hammer mega-miner
07 August 2019 - 19:02
Glencore’s profits nosedived 92% in the first half of 2019, as the mega-miner and world’s largest commodity trader was hit by low prices, operational setbacks and higher costs at its African copper operations.
The company’s performance is in stark contrast to that of its peers like Anglo American and BHP which are flourishing on the back of strong iron ore prices, a commodity which Glencore mining has no exposure to...
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