May 31, 2017

Top Global Mining Companies

   May 31, 2017

Top Global Mining Companies

Share this chart

Editor’s Remarks:
Glencore found itself in the news last week over reports that the Anglo-Swiss mining giant was interested in taking over Bunge, one of the world’s leading agricultural firm. However, Glencore’s shareholders are unhappy over reports that their special dividend might be cut so that the deal can be funded. They should be forgiven for feeling this way: despite the company pulling in $152.96bn in 2016, it has only just recovered from a crisis. Rewind two years ago and Glencore was languishing under a mountain of debt amid falling commodity prices, which were exacerbated by the Chinese slowdown. Between May 2015 and January 2016, the company’s shares fell 75% to a low of GBX 73 and Glencore stopped paying a dividend so it could grapple with its debt. Now, the shares have rebounded to just under GBX 300 and many investors will feel its high time they were rewarded for their troubles.

Get articles like this straight to your inbox each morning with our Breakfast Briefing. Sign up by clicking here!

Log in with your details

or    

Forgot your details?

Create Account

Send this to a friend