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Friday, December 3, 2021

Mining giant Glencore reports $676 mn first-half loss

Swiss mining and commodities giant Glencore (Xetra: A1JAGV – news) on Wednesday reported a first-half loss of $ 676 million (620 million euros) on the back of falling prices in the metals market and asset depreciation.

In the first half of 2014, Glencore recorded profits of $ 1.7 billion.

Glencore shares have fallen by 40 percent this year, reflecting investor mood about mining firms amid fears slower economic growth in China will hit demand.

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