$GLCNF

Centaurus Metals (CTM) signed nickel offtake deals with Glencore and CNGR, securing US$40m in equity investments and US$900m in sales over five years. The agreements cover 50,000 dry metric tonnes annually, with pricing tied to LME nickel prices. Proceeds will support project funding and debt negotiations.

Glencore began trading on the Australian Securities Exchange (ASX) on 14 October 2026, according to the company. CEO Gary Nagle noted Glencore's long-term investment in Australia and the country's understanding of global resources and commodity markets. This listing provides Australian investors a new way to participate in Glencore's future.

A US-backed consortium, Orion CMC, is nearing completion of a deal to buy 40% of Glencore's copper-cobalt mines in Congo. The group, backed by US and Middle Eastern entities, aims to reduce reliance on China. Glencore's mines are key to global copper and cobalt supply, with Chinese firms currently dominating output. The Trump administration is reportedly divided on copper tariffs.

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.

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 (GLEN) began trading on the ASX as GLC.AX, opening at A$11.44 and closing at A$11.23. The company plans to restart the Alumbrera copper mine in H2 2027, aiming for 75,000 tonnes over four years. Glencore also seeks a partner for its 49% stake in Koniambo Nickel SAS and funded US$40M for Orion Minerals' Prieska project, targeting first production by end-2027.

UBS initiated coverage of Glencore PLC with a Buy rating and A$13.40 price target, citing strong trading performance, commodity prices, and copper project growth. Copper is expected to drive earnings growth from 32% to over 50% by 2030. UBS also highlights Glencore's trading division and its valuation compared to rivals.

JPMorgan upgraded Glencore (LON:GLEN, OTC:GLCNF) to Overweight, raising its price target to GBP7.30. The firm cited copper production growth, improved EBIT guidance, and shareholder returns. Glencore's stock has surged 48% year-to-date, with a market cap of $92 billion. The company also raised its long-term profit outlook for commodity trading and plans an ASX listing in 2026.