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Glasenberg Signs Off With Glencore Dividend, Trading Bonanza

  • CEO is preparing to hand over to coal boss Gary Nagle
  • Glencore benefited from oil bets, surging copper price
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Glencore Plc reinstated its dividend on the back of record trading profits as the world’s biggest commodity trader reports its final results under the leadership of billionaire Chief Executive Officer Ivan Glasenberg.

Glencore benefited from profitable bets on volatile oil swings in the first half of the year, and metals earnings jumped after prices soared following a plunge earlier in 2020. It’s also seeing a turnaround at the long-troubled African copper business. The company has brought its debt back down to within a target range and said it’s planning for further improvements this year.