Glencore CEO Ivan Glasenberg

Glencore CEO Ivan Glasenberg

Simon Dawson/Bloomberg

At an investor conference in February, Ivan Glasenberg, billionaire and chief executive officer of Glencore International Plc, right, said he hoped the new generation of CEOs had learned lessons from the past and urged them to stop building mines. Glasenberg “set the tone for the new ‘age of austerity’ for miners,” Bank of America Corp. analysts wrote in May.