Glencore
Multinational commodity trading and mining company
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| 2024 | Chilean tax authorities initiated the process of recovering more than $1.5 billion in unpaid taxes from Glencore. |
| August 2024 | Glencore decided to retain its coal business after consultation with shareholders, with over 95% supporting the retention. The company also acquired Elk Valley Resources (EVR), expanding its coal operations and potentially increasing saleable coal by over 30%. |
| July 2024 | Glencore completed the acquisition of Teck Resources' steelmaking coal business and subsequently abandoned the planned spin-off of coal assets. |
| November 2023 | Glencore announced a controversial plan to inject up to 110,000 tonnes of carbon dioxide annually into Australian groundwater, raising significant environmental and health concerns. Hydrogeologist Ned Hamer warned that the injection could increase water acidity, potentially dissolving rock and releasing heavy metals, thereby compromising the water source for farmers and outback residents. |
| November 2023 | Glencore acquired Teck Resources' steelmaking coal business for $9 billion and announced plans to spin off its coal assets by 2025 through a listing on the New York Stock Exchange. |
| 2022 | International Rights Advocates appealed the initial dismissal of the lawsuit against Glencore and other technology companies regarding child labor allegations. |
| December 2022 | Glencore agreed to pay $180 million to Congo to settle a case involving $27.5 million in bribes paid to government officials between 2007 and 2018. |
| September 2022 | Glencore committed to reaching net-zero carbon emissions by 2050, targeting a 40% reduction in carbon footprint by 2035 compared to 2019 levels. |
| June 21 2022 | A British subsidiary of Glencore pleaded guilty to seven additional counts of bribery related to oil operations in Nigeria, Cameroon, Equatorial Guinea, Ivory Coast, and South Sudan between 2012 and 2016, with bribes paid to officials to improperly perform their functions. |
| May 24 2022 | Glencore pleaded guilty to multiple counts of bribery and agreed to pay approximately $1.5 billion in penalties. |
| March 2022 | Glencore's leadership publicly condemned the Russian invasion of Ukraine and announced a review of its business activities in Russia, including its equity stakes in En+ Group and Rosneft, while continuing to trade Russian oil products despite international pressure. |
| March 2022 | Qatar's Sovereign Wealth Fund announced it would sell a £812 million stake in Glencore Plc. |
| February 2022 | Glencore acquired Newmont's 18.75% interest in the MARA project in Argentina, increasing its interest to 43.75% for $124.9 million at closing. |
| June 22 2021 | Glencore reported plans to reopen the Mutanda mine towards the end of 2021 and return to production in 2022. |
| December 2020 | Glencore extended its cobalt supply agreement with GEM until at least 2029. |
| December 2020 | CEO Ivan Glasenberg announced his retirement in 2021 after nearly 20 years, to be succeeded by Gary Nagle, who was running the company's coal business. |
| October 2020 | Glencore provided $10 million in bridge financing to Falco Resources, a gold and copper miner in Quebec. |
| August 2020 | Glencore suspended dividend payments to investors, prioritizing debt repayment in response to the business impacts of the COVID-19 pandemic, becoming the first major mining company to do so. |
| June 2020 | Tesla Motors established a long-term supply contract with Glencore for cobalt, reversing their earlier intention to eliminate the metal from their lithium-ion battery formula. |
| 2019 | BMW partnered with Glencore to secure cobalt supply from the Bou Azzer mine in Morocco for their battery production. |
| December 15 2019 | International Rights Advocates filed a lawsuit against Apple, Microsoft, Dell, Tesla, and Glencore, alleging child labor in cobalt mining operations and claiming these companies benefited from such practices. |
| April 2019 | U.S. Commodity Futures Trading Commission initiated an investigation into Glencore for potential violations of the Commodity Exchange Act and regulations concerning corrupt practices related to commodities. |
| March 6 2019 | The Guardian Australia publicly accused Glencore of conducting a sophisticated, coordinated global lobbying effort to undermine environmental activists and promote coal use through political influence and social media messaging. |
| February 2019 | Glencore shut down its pro-coal lobbying campaign that had been running since 2017. |
| February 2019 | Glencore announced a reduction in production at its Mutanda copper and cobalt mine in Congo, which in 2018 produced 199,000 tons of copper and 27,000 tons of cobalt, representing about one-fifth of global cobalt production. |
| January 2019 | A delegation from the Swiss Federal Department of Foreign Affairs, led by Ignazio Cassis, visits the Mopani Copper Mines, sparking controversy and criticism from Amnesty International and Swiss watchdog groups regarding human rights in the commodity sector. |
| July 2018 | The Democratic Republic of the Congo enforced a new mining code, forcing Glencore to pay higher taxes. |
| July 3 2018 | Glencore received a subpoena from the U.S. Department of Justice requesting documents related to potential violations of the Foreign Corrupt Practices Act and money laundering statutes, focusing on the company's business activities in Nigeria, Democratic Republic of Congo, and Venezuela from 2007 to the present. |
| June 2018 | Glencore resumed paying royalties to Ventora Development for Mutanda Mining ($695 million) and Kamoto Copper Co ($2.28 billion). |
| June 2018 | Glencore's Katanga Mining Ltd. agreed to a recapitalization plan involving a $5.6 billion debt write-off and $150 million payment to Gécamines. |
| June 2018 | Glencore purchased a 78% stake in Ale Combustíveis S.A., a Brazilian fuel distribution company, aiming to expand its fuel distribution network. |
| May 2018 | Bloomberg reported that Britain's Serious Fraud Office was considering opening a bribery investigation into Glencore's dealings with Dan Gertler and DRC President Joseph Kabila. |
| April 2018 | Glencore began limiting its exposure to Oleg Deripaska by canceling a planned stake swap with Rusal and En+ Group. CEO Ivan Glasenberg resigned from Rusal's board during this period. |
| March 2018 | Glencore agreed to sell one-third (13,800 tonnes) of its cobalt output to China's battery recycler GEM. |
| January 2018 | Glencore withdrew its secondary listing from the Hong Kong Stock Exchange. |
| 2017 | Glencore, in collaboration with consulting firm CT Group, began a large-scale global lobbying campaign to promote coal use, targeting environmental activists, politicians, and social media platforms. |
| December 2017 | Dan Gertler was sanctioned by the U.S. government, which led to a halt in royalty payments from Glencore. |
| November 5 2017 | The Paradise Papers revealed Glencore loaned $45 million to Israeli billionaire Dan Gertler in a controversial deal involving negotiations over a joint venture with the Democratic Republic of Congo's state-owned Gécamines at the Katanga copper mine. |
| May 2014 | Glencore announced it would close its underground Newlands coal mine in Queensland, Australia, planned for late 2015, following falling coal prices and escalating production costs. |
| March 2014 | Glencore completes the upgrade of the Mopani Mines asset plant, reducing sulphur dioxide emissions by 97%, bringing the emissions closer to World Health Organisation international standards. |
| 2013 | Glencore merged with Xstrata, substantially increasing the company's size. |
| November 2013 | Glencore began trading on the Johannesburg Stock Exchange. |
| 2011 | Reuters reports Zambian officials believe Glencore's Mopani mine is causing pollution, acid rain, and health problems affecting 5 million people in the region. |
| May 2011 | Glencore was listed on the London Stock Exchange and became a constituent of the FTSE 100 Index. |
| March 1 2011 | SAMREF recommended that Gécamines sell its 20% share of the Mutanda Mine to an entity associated with Dan Gertler. |
| August 2010 | Glencore took half the shares of the company that acquired the 75% stake in Kansuki mine, becoming the mine's operator. |
| July 2010 | Congo's government secretly transferred a 75% stake in Kansuki mine to a company associated with Dan Gertler at undervalued prices. |
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