Glencore held an investor update call yesterday, in which it announced a number of management changes.
In the past week, Rio Tinto has announced three separate deals that complete its exit from coal. In this article, Viktor Tanevski, a senior research analyst at Wood Mackenzie, offers his analysis.
Glencore produced 91 million t of coal in 3Q17, which was in line with the comparable period as expected increases from productivity improvements.
Glencore’s coal production of 124.9 million t was 5% down on 2015, mainly reflecting the divestment of Optimum Coal.
The New South Wales Planning Asseement Commission has approved an application to relocated an transmission line to allow the continuation of mining at Glendell mine.
Glencore has bought out its joint venture partners at the Newlands and Collinsville coal mines in Queensland’s Bowen Basin.
Genesee & Wyoming Australia has entered into agreements to acquire Glencore’s rail coal haulage business in New South Wales Hunter Valley for AUS$1.14 billion.