Glencore’s first-half earnings down 32%

The first-half performance of Glencore reflected a challenging economic backdrop for the diversified mining and marketing company’s commodity mix, along with setbacks to its ramp-up and development assets, Glencore CEO Ivan Glasenberg said on Wednesday, when the company reported a 32% fall in earnings before interest tax depreciation and amortisation (Ebitda) to $5.6-billion. However, the rest of the business remained strong and performed well, Glasenberg stated in a release to Mining Weekly Online.