Glencore’s former head of oil pleads not guilty to bribery charges

Hudbay Minerals and Mitsubishi approved a $2.07 billion investment for the Copper World project in Arizona, targeting first production in H2 2029. The project, with a 15-year mine life, aims to produce 102,000 mt of copper annually in its first decade, with an average cash cost of $1.65/lb. Hudbay holds a 70% stake, while Mitsubishi owns 30%.

Glencore (LON: GLEN) secured land access for its Coroccohuayco copper expansion in Peru, extending Antapaccay's life to over 40 years. The project, targeting 2029 production, still needs final permits. Glencore aims to double copper output, with Peru central to its strategy. The expansion could boost production and local employment. Glencore also acquired the Quechua copper project, adding potential future production.

Cornish Metals (TIN) plans to raise £135M via equity at 60p per share, with Glencore investing £11.2M. The funds will support South Crofty's production by mid-2028. The deal includes a 6-year offtake agreement for 100% of tin concentrates, subject to approvals.

Glencore's $40m funding for Orion Minerals' Prieska mine is now unconditional, enabling development of the Uppers Mine. Orion aims for first copper and zinc production by late 2027. The $250m agreement includes upfront funding linked to future concentrate sales. Tranche A will fund Uppers construction, with drawdown expected by October. Orion has appointed contractors and is progressing development activities. Tranche B, for the Deeps, remains conditional on further funding.

Orion Minerals received $40m from Glencore to begin developing its Prieska Copper Zinc Mine's 'Uppers' section, with first metal expected by late 2027. The deal is part of a $250m agreement, with the remaining $210m contingent on securing further funding. Orion aims to produce 22,000t of copper and 65,000t of zinc annually. The company's shares gained 3% initially.

Glencore, a $131B mining and commodities firm, began trading on the Australian Securities Exchange (ASX) via a secondary listing. The move aims to reduce its valuation gap with peers BHP and Rio Tinto by accessing Australia's large institutional investor base. Glencore's CDIs will mirror its London-listed shares, offering exposure to copper and energy commodities. The company must meet certain liquidity thresholds to be included in the S&P/ASX 100 index.