Glencore to soar on copper crunch
The mining house believes the world just ‘doesn’t get’ that a shortage is looming in the metals it mines
19 January 2023 - 05:00
Last year was quite the ride for Glencore CEO Gary Nagle. In his first full year in charge since taking over from Ivan Glasenberg, Glencore made global headlines for mainly the wrong reasons — such as corruption penalties totalling more than $1.2bn.
But it also enjoyed a blistering 80% rally in its share price. Though there may be more legal fallout if US and UK authorities press for individual prosecutions, it’s clear a line has been drawn under an affair that has squatted on the share for years...
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