Browsing: Glencore

• Glencore spin off of its coal business is the result of mounting pressure from its shareholders over Environmental Social and Governance (ESG) and climate concerns.
• The company resolved to spin off its coal activities after finalizing its acquisition of the coal assets belonging to Teck, a Canadian mining company.
• Glencore had initially sought to acquire Teck Resources entirely but was thwarted by the target company’s controlling shareholder.
• Shareholders in the company have since 2021 rejected the company’s climate report and its disclosures leading to the resolution to spin off its coal business.

Glencore spin off, the background

Glencore, one of the largest mining companies in the world, that is listed on the Johannesburg Securities Exchange and the London Stock Exchange announced that it would demerge its coal assets and list them as a separate business on the NYSE and JSE in two years’ time.

This follows pressure from shareholders that …

Cobalt mining in the Democratic Republic of Congo (DRC) remains crucial in meeting global demand due to its usage in electric vehicle batteries and electronic devices.

However, the industry is marred by grave human rights abuses, including unsafe working conditions and child labour. Efforts must be made to reform mining practices and address the challenges associated with informal or artisanal mining sites.…