Glencore eyes record trading profits amid commodity turmoil
The miner expects adjusted operating profit in its marketing division to exceed $3.2bn (R51bn), above its long-term full-year guidance
17 June 2022 - 09:10
UPDATED 17 June 2022 - 09:54
Switzerland-based Glencore, a commodities trader and resources miner, expects its marketing division to deliver first-half adjusted operating profit in excess of $3.2bn (R51bn), above its long-term full-year guidance, as it cashes in on volatility and surging prices.
The group said on Friday it has seen unprecedented dislocation in markets over the year to date, but its “marketing business has successfully navigated the extraordinary global challenges faced during the period, being a source of continuous and reliable commodity supply to our vast customer base.”..
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