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Tag Archives Glencore

Reuters

Bunge leaves door open to selling itself, cuts 2017 forecast

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Chicago/Reuters – Bunge Ltd kept the door open on Wednesday to a sale of the company as it reported a 34 percent drop in quarterly earnings and cut its full-year outlook, but its chief executive officer predicted a grains market rebound that would reverse the slide. CEO Soren Schroder said planned cost cuts should also […] Read more
(AGCanada.com, Bunge.com photos)
Crops, Reuters

Glencore approaches Bunge on possible takeover

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Reuters — Glencore Plc said on Tuesday its agricultural unit has made an informal approach to commodities trader Bunge Ltd. about a “possible consensual business combination,” the company said in a statement. The commodities trading firm did not say more about a potential offer that its Glencore Agriculture unit made to Bunge. Glencore, whose Canadian […] Read more
(Dave Bedard photo)
Crops, Reuters

U.S. agribusiness deal not a priority for Glencore

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Lausanne | Reuters — Glencore does not see further consolidation in agricultural commodities as straightforward and views a U.S. acquisition as less crucial than in the past, the group’s agriculture chief said Tuesday. The diversified trading and mining group had pointed to the possibility of making bolt-on acquisitions after posting improved results for 2016 and […] Read more
(Dave Bedard photo)
Crops

Viterra results offset Glencore’s improved year-end

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Commodity giant Glencore’s efforts to ratchet down its debts paid off in fiscal 2016 — though “challenges” weighed on the ledger for its Viterra grain handling arm. Swiss-based Glencore on Thursday released preliminary results for 2016, booking net income attributable to equity holders of $1.379 billion on $152.948 billion in revenues, up from an $8.114 […] Read more
Rail cars arrive at Glencore’s Puerto Prodeco coal depository in Colombia. (Glencore.com)
Crops, Reuters

Glencore sees renewables not cost competitive until mid-century

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London | Reuters — Renewable energy will not be cost competitive with fossil fuels until 2050, Glencore said on Tuesday, much later than energy organizations forecast and supporting the mining and trading giant’s case for continued investment in coal. Glencore, whose non-mining holdings include Canadian grain handler Viterra, has said coal is still an investment […] Read more
(Dave Bedard photo)
Crops

Viterra plans new elevator in eastern Saskatchewan

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Glencore’s Prairie grain handling arm Viterra plans to boost its throughput capacity in east-central Saskatchewan with a new elevator at Wadena. Wadena, served by both Canadian National and Canadian Pacific Railways (CN, CP), already has a smaller Viterra elevator on each line. The two former Saskatchewan Wheat Pool elevators have capacity for 5,020 and 4,000 […] Read more
(Dave Bedard photo)
Crops

Viterra books lower first-half revenues for Glencore

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“Average” crops and lower prices on the Prairies in the first half of 2016 led to results “substantially below” those in the year-earlier period for Viterra’s Canadian operations. Viterra’s owner, Swiss commodity mining/marketing firm Glencore, on Wednesday reported a nine per cent drop in revenues across its global agricultural products business, from $10.74 billion in […] Read more

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