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Glencore International PLC

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  • LONDON, May 1- The London Metal Exchange has fined one of its warehousing operators, CWT Commodities, 100,000 pounds for breaching information barriers with associated trading companies. The only directly comparable disciplinary action to that against CWT was the 50,000- pound fine imposed on Henry Bath in 1999 for trading metal on its own account.

  • MELBOURNE, April 27- BHP Billiton is contesting A $522 million in Australian tax bills on its Singapore marketing operations up to 2010, after having paid almost no tax in Singapore since 2006, the global miner told an Australian Senate panel. The company revealed that between 2006 and 2014 its Singapore marketing business earned profits of $5.7 billion, on...

  • CARTAGENA, Colombia, April 24- Engineering work ordered by Colombia's constitutional court that would allow the country's main coal railway to operate at night was blocked by protesters shortly after the work got under way this week, a Mines and Energy Ministry official said on Friday. The Fenoco railway, owned and operated by a consortium of coal miners...

  • *Vedanta's Zambia copper unit will still lose money- CEO. LUSAKA, April 23- Barrick Gold Corp, the world's biggest gold producer, said on Thursday it will not suspend operations at its Lumwana open-pit copper mine in Zambia now that the country's government has reduced mining royalties. "We appreciate the leadership and engagement of President Lungu and the...

  • *Vedanta's Zambia copper unit to remain loss-making- CEO. LUSAKA, April 23- Barrick Gold Corp. has backtracked on its decision to suspend operations at its Lumwana open pit copper mine in Zambia after the cabinet reduced mining royalties, a senior government official said on Thursday. Zambia's cabinet set the royalty tax rate for open cast and underground...

  • British stocks flat after retail sales drop Thursday, 23 Apr 2015 | 8:06 AM ET

    *FTSE 100 barely changed after retail sales figures. *WPP falls after disappointing Q1 sales. Utilities stocks including United Utilities and SSE were up more than 1 percent after a broker update from Citi said election volatility would affect the sector going forward, adding that National Grid was the most immune in its view.

  • TORONTO, April 21- Canadian activist firm West Face Capital Inc on Tuesday launched a proxy battle against Gran Tierra Energy and outlined plans to put up a slate of six nominees for the energy firm's board, saying that its current four-member board has failed investors. West Face, whose managed funds control roughly 9.8 percent of Gran Tierra's shares, said the...

  • FACTBOX-Potential labor flashpoints for copper in 2015 Monday, 20 Apr 2015 | 12:00 AM ET

    April 20- Contracts at major copper mines, including Antamina in Peru and Grasberg in Indonesia, expire this year in the biggest round of contract negotiations since 2011.. The mine is controlled by BHP Billiton and Glencore Plc which have 33.75 percent stakes. Teck Resources has a 22.5 percent interest, and Mitsubishi Corp has 10 percent.

  • SANTIAGO, April 20- When Antofagasta Chief Executive Diego Hernandez took the stage at the world's biggest copper conference last week, he talked about the growing risks mining companies face from rising worker salaries in South America due to staff shortages and strong unions. Last year, Antofagasta agreed to four-year contracts, including pay increases...

  • *Alcatel shares fall back as Nokia unveils bid details. PARIS, April 15- European stocks rallied on Wednesday, with one regional benchmark hitting a level not seen since late 2000, after the European Central Bank said it remained committed to its full asset-buying programme to revive the euro zone economy. "Our focus will be on the full implementation of our...

  • Australia's Fortescue under pressure as iron ore crashes Wednesday, 15 Apr 2015 | 3:28 AM ET

    *$9 bln debt load puts Fortescue under stress. *Glencore would eye Fortescue if cheap enough- sources. *Fortescue updates on Q1 output, costs on Thursday.

  • Codelco, the Chilean state miner that produces about 8 percent of the world's copper, will review the cost reduction plan at its Salvador mine as it prepares to restart operations there after torrential rains shuttered the complex in March, said a source close to the state-run miner. Salvador produced copper at a cost of some $11,439 per tonne in the fourth...

  • Britain's FTSE nears record high as Shire shines Friday, 10 Apr 2015 | 9:11 AM ET

    *FTSE 100 up 0.5 pct, near record highs. The FTSE 100 rose 0.5 percent to 7,051.07 points, close to a record 7,065.08 points reached in March. Shire shares rose 5.2 percent, the biggest gain on the FTSE 100, from a U.S. Food and Drug Administration decision to grant a priority review to its application for lifitegrast, a dry-eye disease treatment.

  • *FTSE 100 up 0.4 pct, in line with European region. LONDON, April 10- Top UK shares rose on Friday, nearing all-time highs as real-estate stocks extended gains from a rebound in property prices and drugmaker Shire got a lift from a priority drug review in the United States. The FTSE 100 rose 0.3 percent to 7,037.57 points, close to an all-time high of 7,065.08 points hit...

  • *Glencore free to refresh bid for Rio Tinto under UK rules. MELBOURNE, April 8- Australia's treasurer has told business representatives he would not allow Glencore Plc to merge with Rio Tinto due to concerns about losing tax revenue, a person familiar with his comments said on Wednesday. Treasurer Joe Hockey said based on the tax implications he had seen from the...

  • MELBOURNE, April 8- Australia's treasurer has told mining industry representatives he would not allow Glencore Plc to merge with Rio Tinto, the Australian Financial Review reported on Wednesday. The report was published the day UK restrictions came off on Glencore making a fresh approach to Rio Tinto after being rebuffed last August. Treasurer Joe Hockey...

  • *Glencore, Tohoku set thermal coal price at $67.80/ T- sources. TOKYO, April 7- Mining group Glencore Xstrata Plc and Japan's Tohoku Electric Power Co have settled an annual Australian thermal-coal import contract 17 percent lower than a year earlier, sources with direct knowledge of the matter said on Tuesday. Glencore did not immediately respond to requests for...

  • *Singapore marketing hubs save the two A $750 mln/ year- AFR. *Rio, BHP say the Singapore hubs not set up to save tax. MELBOURNE, April 7- Australia is pursuing global miners BHP Billiton and Rio Tinto for shifting billions of dollars in iron ore profits through marketing hubs in Singapore that pay almost no tax, the Australian Financial Review reported on Tuesday.

  • LONDON, April 1- The former head of oil company Gulf Keystone said he was talking to several parties, including ExxonMobil, about a rescue for the firm before being forced to quit under pressure from an investor. Gulf Keystone, which has been hit hard by a fall in oil prices and delayed payments for crude by Kurdistan, said this week that Chairman Simon Murray, a former...

  • *Davis' sight now on South32, Anglo American- sources. LONDON, March 31- More than a year after he launched his private fund, former Xstrata boss Mick Davis is coming under pressure to build a new mining empire with the $6 billion in capital he has raised. The renowned dealmaker set up X2 Resources 18 months ago after Glencore's $46 billion takeover of Xstrata, when he...