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Javier Blas, energy and commodities columnist, journalist, author at Bloomberg, reports that Glencore has posted underlying earnings of $10.1 billion, an 86% increase year-on-year driven by strong trading profits and high copper prices.
The company also announced plans to return shareholders an extra $1.5 billion and intends to pursue a secondary listing in Australia.
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Blas has previously reported on senior moves in the commodities sector, including Nick O’Kane’s exit from Mercuria after two years. He also covered increased dark oil flows via the Strait of Hormuz and more ship-to-ship transfers in the Gulf of Oman. These earlier developments highlight shifts in both personnel and physical commodity flows.