Metals and mining, Glencore

Glencore: Zhayrem and Vasilkovskoe increased their reserves

JSC “Zhayremsky GOK” increased the quality evaluation of more than 60 mln tons of ore having referred them to the reserves with zinc content of over 4%, is said in Glenore’s repor

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Glencore reduced coal mining by 11% to 91.9 mln tons over 9 months

In January-September 2016 Glencore reduced coal mining by 11% to 91.9 mln tons against January-September 2015.

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S. Kerimov’s structures might buy 17% of UC Rusal from M. Prokhorov

Onexim of M. Prokhorov actively sells a package of Rusal, it was offered to many candidates. The controlled by the son of S.

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"Rosneft" places a bet on Trafigura.

Trader will provide the company with prepayment in hard currency.
The Swiss trader Trafigura, who from April, according to unofficial data, will buy about 1 million tons of oil per month from the oil company, can become the largest trader of "Rosneft". According to "the Kommersant", the contract provides for  advance payments, and under normal conditions for such contracts "Rosneft" can get almost $ 1 billion from the trader for the next six months. Cut out due to the sanctions from Western funding "Rosneft" needs funds to pay for off its debts.
The Swiss trader Trafigura is in talks with "Rosneft" to increase its purchases of crude oil from the oil company. According to Reuters, in April trader will start to export more than 1 million tons of "Rosneft" oil a month - nearly six times more than what Trafigura buys now. A source of "the Kommersant" in the market confirms this information, but adds that currently the contract is not concluded, the negotiations continue and the final volume of deliveries for the trader and delivery terms are not defined. "Rosneft" and Trafigura do not comment on the situation.

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Glencore to invest $650 mln into own oil production during 2 years

The international trading and mining British-Swiss company Glencore Xstrata has taken a decision to start more extensive oil production and it is about to invest $650 million into the projects during the next 2 years. The company has taken a decision to go into oil production. It will enable the company to get higher income from oil sale.
To date Glencore is the world’s second largest company on oil and oil products sales (3.2 million tons in 2012).

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“Rosneft” to get a recurring advance at $10 billion from “Glencore” and “Vitol”

“Rosneft” will get a recurring advance in the amount of $10 billion from “Glencore” and “Vitol”, Rosneft’s presiden,t I.Sechin said.

“This week we have announced about a conclusion of an unprecedented deal with “Glencore” and “Vitol”. Within the frame of the settlement Rosneft will get a recurring advance at $10 billion,” Sechin said.

http://www.oilru.com/news/359700/

Translated by Iraida Idiyatova Read more »

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