The seasoned trader and competitive speed walker on Wednesday blamed “short-term” hedge funds which did not “understand” his business for attacking Glencore's share price, and said it was speculators who were pushing commodity prices lower.
Glencore sold a trio of mining assets for $290m, extending its retreat from unwanted projects and continuing a trend among the largest resource companies to streamline their portfolios as the commodities downturn bites.
Glencore hit back on Tuesday and insisted it was “operationally and financially robust”, sparking a sharp rebound in the miner and commodity trader's share price after it plunged almost a third at the start of the week.
Ivan Glasenberg, Glencore's chief executive, on Tuesday admitted the miner-cum-trader had “learnt lessons” during a tumultuous year for the natural resources sector and promised to keep debt levels lower after racking up a $5bn net loss for 2015 ...
Many chief executives think of themselves as hard-charging but few mean it as literally as Ivan Glasenberg. On a breezy March day, the head of Glencore took to the rugby pitch at London's Honourable Artillery Company for the commodities group's annual ...
Glencore, the indebted trading and mining group hit hard by the collapse in commodity prices, has stepped up its deleveraging plan and flagged a possible stock market flotation of its agricultural business.
Glencore announced plans to slash its $30bn debt pile by shelving dividends, selling assets and raising fresh equity, as the mining and metals behemoth wrestles with a slump in commodities that has battered its share price.