Onaping Depth reaches nickel

Korea Eximbank will provide ₩300 billion ($216.5M) to LS Cable for a US subsea cable plant, supporting its entry into North American and European markets. The facility, costing ₩1 trillion ($721.7M), will produce 500 km of HVDC subsea cable annually, meeting demand from AI data centers and offshore wind farms. Additionally, Eximbank will offer $1B to Glencore to secure copper supply for South Korean manufacturers.

Vast Resources plc said it entered a loan agreement with Glencore International AG for a US$10 million term loan facility. US$4 million is restricted to project expansion at Aprelevka and US$6 million to working capital and debt repayment. Funds are subject to reverse takeover and admission becoming effective. Loan interest is SOFR plus 5% margin, reducing to 3.75% after qualifying events, and Glencore receives 10,000,000 warrants exercisable at 7.5p.

Korea Eximbank said it will provide $1 billion in financing to Glencore to secure stable copper supply for Korean companies. Glencore will use the funds for general operations and supply copper during the loan period, according to the bank. The lender cited Glencore’s global mines and trading network as backup supply if disruptions occur.

Glencore reported a strong six-month performance, with EBITDA up 86% year on year to $10.1bn, driven by a marketing segment that more than doubled EBITDA to $3.3bn. The company plans a $500m share buyback and a special interim cash payment of about $1bn. Glencore also intends a secondary ASX listing in October, citing Australian demand and potential ASX200 inclusion.

Glencore reported first-half results, saying higher average prices and a favorable marketing backdrop supported stronger earnings amid Middle East conflict-driven energy market repricing. Adjusted EBITDA rose 86% to $10.1bn and net income attributable to equity holders increased to $4.4bn. Marketing adjusted EBIT was $3.3bn (+142%).

Glencore Plc reported first-half profit versus a prior-year loss, with adjusted EBITDA up 86% to $10.115 billion, driven by higher commodity prices. Revenue rose 49% to $174.430 billion. Glencore announced a $500 million share buyback by Feb 2027, a $8.5c per-share special cash distribution, and plans a secondary Australian listing targeting Oct 2026.