In a shocking move, the world’s largest producer of thermal coal, Glencore (GLEN.LON), announced yesterday that it will shut down its Australian coal operations for three weeks starting in mid-December. An estimated 5 million tonnes of output (roughly 6% of Glencore’s annual Australian coal output) will be cut from the markets as a result. Seaborne thermal-coal prices remain at… Continue Reading

I was researching the history of Glencore (GLEN:LN) today and, specifically, its billion dollar deal making leader Ivan Glasenberg. Glencore is the one of the largest diversified mining companies in the world with a market capitalization of nearly CAD $80 billion and 2013 top-line revenue of US $240 billion.  They produce and trade in over 90 different commodities… Continue Reading