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    GLEN   JE00B4T3BW64

GLENCORE PLC

(GLEN)
  Report
Delayed Quote. Delayed London Stock Exchange - 10/15 11:35:28 am
390.55 GBX   +1.49%
09:29aGLENCORE : opens talks with Chad over debt restructuring
RE
10/15PUMP / DUMP #6 : This week's gainers and losers
10/15GLENCORE : Copper heads for best week since 2016, zinc rockets
RE
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Glencore : Zambia says it will restore 'sanity' to rattled mining sector

09/14/2021 | 06:47am EDT

LUSAKA, Sept 14 (Reuters) - Zambia's newly-appointed mines minister said on Tuesday that the government will ensure stability and predictability in the mining sector, seeking to allay fears of royalty hikes.

Paul Kabuswe also said the government must root out corruption in mining, which is the engine of Zambia's economy.

"We may not do everything in the coming budget but I can assure you that sanity will be brought back to the mining sector before 2026," Kabuswe said.

Zambian bonds and the kwacha currency rallied after the election of businessman President Hichilema, who named Kabuswe mines minister last week.

"We have to make policies that will not disadvantage the investors. We have to have stability in the economy so that the investor is happy," Kabuswe told a press briefing.

Africa's second-largest copper producer, which defaulted on its sovereign debt last year, has benefited from an increase in copper prices to record highs.

Kabuswe said Hichilema would oversee Zambia's policy on Mopani Copper Mines and Konkola Copper Mines (KCM), two critical operations his new administration must tackle.

Zambia took on $1.5 billion in debt to buy Mopani from Glencore in January, and is yet to find a new investor for it.

The previous administration handed control of KCM to a provisional liquidator in May 2019, triggering an ongoing legal dispute with its former owner Vedanta. (Reporting by Chris Mfula in Lusaka; Writing by Helen Reid in Johannesburg; Editing by Alexander Smith)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
GLENCORE PLC 1.49% 390.55 Delayed Quote.67.62%
VEDANTA LIMITED 3.90% 331.9 Delayed Quote.105.64%
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Financials (USD)
Sales 2021 210 B - -
Net income 2021 6 999 M - -
Net Debt 2021 28 220 M - -
P/E ratio 2021 9,43x
Yield 2021 4,19%
Capitalization 70 700 M 70 763 M -
EV / Sales 2021 0,47x
EV / Sales 2022 0,41x
Nbr of Employees 135 000
Free-Float 75,5%
Chart GLENCORE PLC
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Glencore plc Technical Analysis Chart | GLEN | JE00B4T3BW64 | MarketScreener
Technical analysis trends GLENCORE PLC
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TrendsBullishBullishBullish
Income Statement Evolution
Consensus
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Mean consensus BUY
Number of Analysts 20
Last Close Price 5,37 $
Average target price 5,66 $
Spread / Average Target 5,49%
EPS Revisions
Managers and Directors
Gary Nagle Chief Executive Officer
Steven F. Kalmin Chief Financial Officer
Kalidas V. Madhavpeddi Chairman
Patrice E. Merrin Independent Non-Executive Director
Martin James Gilbert Senior Independent Director
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