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08 Aug

Glencore posts 62% drop to H1 profit, confident in portfolio strength

Swiss mining and trading giant Glencore posted on Tuesday weaker-than-expected first-half financial results after a 62% decline in net profit, Kallanish reports. The company reported a net profit of $4.56 billion, down from $12.08 billion a year earlier. Revenues dropped 20% on-year to $107.41 billion. Net debt finished the six-month period at $1.5 billion. The performance reflects a combination of lower prices, higher costs and some operating issues. “Wh…
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