Glencore upbeat on H1 results

Katanga Mining, majority owned by Glencore, has admitted failings related to historical disclosures, as it reached a settlement with the Ontario Securities Commission.

Glencore is to increase its share buyback programme by another US$1B.

In spite of experiencing a difficult year, Glencore has reported 23% profit growth in its first-half (Jan-June) results.

Glenore has set up a committee of its Board to oversee the company’s response to the subpoena issued last week by the US Department of Justice (DOJ).

Shares in Glencore have dropped in value after the US Department of Justice (DOJ) initiated an investigation into the firm.

Glencore has unveiled a sweeping US$5.6B restructuring of Katanga Mining Ltd (KML), its embattled copper company in the Democratic Republic of Congo (DRC).