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1. voda 28 september 2015 20:46

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   NMDC margins shrink as ore prices hit 5-year low
   
   Financial Express reported that poor off take of iron ore by the domestic steelmakers and the decline in prices of the mineral have reduced NMDC’s net sales realization to INR 800-900 per tonne, the lowest in the last five years. Around the same time in 2010, the realization was INR 4,500 per tonne.
   
   NMDC has been forced to bring down the prices of iron ore lumps and fines by 32 % and 45% respectively since January. NMDC has fixed the lump price at INR 2,850 per tonne and fines at INR 1,660 per tonne for September. These are the lowest price in the last five years.
   
   NMDC’s production during April-August stood at 10.5 million tonne. NMDC’s ore sales stood at 11.27 million tonnes in April-August, down 17% from the year ago period.
   
   A company official told Financial Express that “Steel production is not going up. There is more supply of iron ore than demand. We are sitting on a surplus of 6 million tonne of iron ore.”
   
   NMDC has been hit particularly in Karnataka, where it sells around 10 million tonnes of ore annually through the auction route. Due to tepid response from the user industry to auction of ore, NMDC was forced to sell it at around INR 2,500 per tonne cheaper than the landed cost of imported ore in the state. NMDC reckons that if the current subdued global prices, which trigger imports, prevail for another 2-3 years it might have to sell iron ore cheaper in Karnataka. The PSU has recently appointed consultancy firm KPMG for suggesting ways for increased price realisation for its Karnataka ore.
   
   Source : Financial Express
   
2. voda 28 september 2015 20:47

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   Vedanta seeks increase in iron ore production cap in Goa
   
   Business Standard reported that Vedanta has urged the Goa government to raise the iron ore production quota in the state. A senior Vedanta official told Business Standard that “As against the 12 million tonnes of our annual production earlier, we have been given an upper production ceiling of 5.5 million tonnes, a decline of 55 per cent. We have been given a production number, which is much lesser than our capacity. We would certainly continue to look at how to increase this number. But, the important thing is how to get a revised number from the government. We have been meeting with state government officials almost on a weekly basis to get a higher production number. We are hopeful to get it,”
   
   The company has 10 large and small iron ore mines in Goa, of which two are currently operational, after it got environment clearance from the state government. Vedanta had announced reopening of its Codli mine in the state on August 10, after it was shut following a Supreme Court order. Later, Bicholim mine has also started operations. However, the remaining eight mines remained shut, after a cap was slapped on the maximum output.
   
   Early this year, the apex court had granted permission to the government on a condition that the total 98 mines in the state should not exceed accumulative iron ore annual production of 20 million tonnes. The court empowered the state government to allocate quantity as per miner’s capability and past record. Following this, therefore, the government put a ceiling of 5.5 million tonnes of annual iron ore production on Vedanta Ltd. Earlier, the company was producing 12 million tonnes annually.
   
   Source : Business Standard
   
3. voda 28 september 2015 20:48

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   Rio Tinto confident of retaining lowest iron ore costs tag
   
   RWA Today reported that Rio Tinto's iron ore head Mr Andrew Harding has declared that the mining major's proactive strategy on technology will allow it to preserve its ranking as the lowest cost producer of iron ore. Mr Harding said the company has almost 400 initiatives under way to deliver additional savings and productivity improvements across Rio's Pilbara operations in Western Australia that will make it hard for competitors to catch up.
   
   Mr Harding said “Our first-mover advantage with new technology is providing us with a productivity edge that we do not see being bridged by others in the foreseeable future.”
   
   Mr Harding said that as the port and rail infrastructure are now completed, the group could concentrate on improving system wide efficiency and productivity, rather than managing the demands of both construction and operations. He said “At the heart of our success has been combining the best assets with the very best people, and since 2012 we have delivered almost USD 1 billion of cumulative operating cost savings. We are currently tracking nearly 400 improvement projects that will deliver further savings and productivity improvements across our Pilbara operations.”
   
   Rio has cut Pilbara cash unit costs to USD 16.20 per tonne in the first half of 2015, down from USD 20.40 per tonne in the same period a year earlier. Taking into account foreign exchange rates and energy prices, that equates to about USD 15.20 per tonne.
   
   Rio has signalled its Pilbara shipments will slow slightly in 2016 to 335 million tonnes, rising to about 350 million in 2017. Rio has completed the rail and mine infrastructure kit needed to achieve its target to increase production to 360 million tonnes a year. However, it is still ramping up its operations to meet that level, with no date set on when it may be achieved. Development of a new mine, Silvergrass, is expected to be required before it can hit that goal.
   
   Source : WA Today
   

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4. voda 29 september 2015 16:20

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   Glencore weerspreekt financiële problemen
   
   Gepubliceerd op 29 sep 2015 om 15:27 | Views: 1.235
   
   LONDEN (AFN) - Grondstoffenhandelaar Glencore ontkende dinsdag in financiële problemen te verkeren. Maandag verdampte bijna 30 procent van de beurswaarde van het bedrijf na berichten over een gebrekkige solvabiliteit.
   
   De ontkenning van Glencore gaf de koers vleugels. Halverwege de middag steeg het aandeel in Londen met 20 procent. Het bedrijf, dat eerder deze maand een forse schuldenreductie aankondigde en een verlaging van zijn koperproductie, liet weten zich te hebben gewapend tegen de huidige marktomstandigheden. De prijzen van diverse grondstoffen zijn de afgelopen tijd fors gedaald, zowel door zorgen over de staat van de wereldeconomie als door overcapaciteit.
   
   ,,We staan er operationeel en financieel goed voor. We zijn niet gebonden aan bankconvenanten en beschikken over solide kredietlijnen'', stelde de onderneming.
   
5. voda 29 september 2015 20:31

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   Redcar steel plant closure sparks outburst on green charges
   
   The Daily Mail reported that the UK government is coming under increasing pressure to scrap green charges that contributed to the closure of the Redcar plant.
   
   Trade body UK Steel called on ministers to remove hefty green charges that steel plant owners are forced to pay on top of their electricity bills.
   
   Gareth Stace, director of UK Steel, said: ‘Sympathy and warm words are welcome, but ministers must now get behind British steel and deliver the support that we urgently need.’
   
   He called on the Government to ‘create a level playing field for British steel by fully compensating the industry for the high cost of electricity caused by the imposition of climate change policies’.
   
   Under climate change rules, factories must source part of their power from renewable sources, which are more expensive. The industry estimates this adds £8 to the cost of a ton of steel – a cost that is bearable when prices are high, but ruinous now they are lower than £200 a ton.
   
   The Teesside site, which has produced steel for 160 years, will be mothballed with the loss of 1,700 jobs. Another 4,000 jobs are expected to be lost among contractors on the site and in the supply chain.
   
   Source : The Daily Mail
   

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6. voda 29 september 2015 20:31

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   Odisha approves two more iron ore pellet plants
   
   Odisha state government on Saturday cleared investment proposals worth around INR 1,500 crore within a month of implementing the Industrial Policy Resolution-2015, which focuses on the ease of doing business. The state-level single window clearance authority (SLSWCA) headed by chief secretary Mr GC Pati cleared four proposals, including a foreign direct investment (FDI) one.
   
   The SLSWCA also approved a proposal of Indo Pellets Private Limited for setting up of a 6 million-tonne per annum (mtpa) iron ore beneficiation plant and 2.4 mtpa pelltization plant in Keonjhar district with an estimated investment of Rs 926.73 crore.
   
   The state government also approved the proposal of Kashvi International Private Limited, which has proposed to set up a pelletization plant with an investment of Rs 152.77 crore at Jhumpura in Keonjhar.
   
   Another proposal by the Prakrutik Enterprises Private Limited has also received green light from the state government to set up a 2 mtpa coal washery plant at Talcher. The plant would invest Rs 104.4 crore, which would provide employment to 200 people, official sources said.
   
   Source : NYOOOZ
   
7. voda 29 september 2015 20:34

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   AISI urges Obama to address steel issues with Chinese president
   
   American Iron and Steel Institute President and CEO Thomas J Gibson urged President Obama to “fight for manufacturing and for steel” during the US visit of Chinese President Xi Jinping this week.
   
   Source : Strategic Research Institute
8. voda 29 september 2015 20:34

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   Steelworkers to be out in force at U.S. Steel Canada hearing
   
   Hamilton News reported that Union members, retirees and community supporters are being asked to fill a Toronto courtroom on Tuesday.
   
   Steelworkers Local 1005 is issuing the call in advance of a hearing where U.S. Steel Canada will seek another controversial extension to its court-supervised bankruptcy protection.
   
   1005 President Gary Howe notes that the company’s latest request is to suspend dental, drug and vision benefits to retirees and their families, in thanks for years of service in hazardous conditions.
   
   US Steel, which has also decided to move production of high-value steel that is produced for the auto industry out of plants in Hamilton and Nanticoke, is also seeking court permission to stop paying millions in taxes to the City of Hamilton.
   
   Source : Hamilton News
   

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9. voda 29 september 2015 20:35

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   Kobe Steel cuts profit target by 58%
   
   Bloomberg reported that Kobe Steel Ltd has more than halved its full-year profit target after China’s slowing economy hurt sales at its construction machinery unit and a power outage at its Kakogawa steelworks pushed up costs.
   
   The steelmaker now forecasts net income at 25 billion yen ($207 million) for the year to March 2016, 58 percent lower than its July forecast of 60 billion yen
   
   Kobe Steel had a profit of 86.5 billion yen in the year to March 2015.
   
   Kobe Steel, Japan’s third biggest producer of the metal, cut its full-year sales forecast by 2.6 percent to 1.9 trillion yen and its operating profit target by 24 percent to 95 billion yen, according to its statement. The Kakogawa plant in west Japan is one of two, and profits there will be hit by higher safety costs after July’s power outage and reduced output, it said.
   
   Source : Bloomberg
   
10. voda 29 september 2015 20:37

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    Belarusian steel maker BMZ promised state support
    
    BelTA reported that the possibility of granting support to Belarusian Steel Works will be considered soon. The relevant presidential decree has been drafted already. Belarus President Alexander Lukashenko made the statement during the tour of the company's premises on 25 September
    
    In essence some of the payments BMZ is supposed to make will be deferred by allowing the company to issue bonds that will be deposited with state banks. The measure will allow the company to free floating assets for the next few years and channel them into development and additional profits. The bonds will be redeemed later.
    
    The head of state promised that the relevant draft presidential decree would be considered soon and the decision would be made. However, he mentioned that the company would have to meet several requirements. The interest rate on the bonds to be floated will have to be as low as possible.
    
    He said “Manufacturing is what matters for us. Before I sign the decree, the government has to promise me that we are not going to lose the enterprise, that the banks will not be able to peddle the bonds to someone else. I need guarantees. The margin in comparison with the interest rate on loans is the key factor. I need to know it to avoid wasting money. Banks should not line their pockets thanks to the project.”
    
    Reducing operation costs as well as the prime cost of the products BMZ makes using various options is another requirement. He said “You will have to reduce the prime cost and the money spent to make merchandise. If you don't, I am not even going to look at the decree on easing up the company's loan burden. I am saying it to you honestly and sincerely regardless of political considerations.”
    
    The President was told that the products made by the new manufacturing division will allow satisfying half of the demand of Belarusian mechanical engineering enterprises for a number of rolled metal products. The company also intends to build a foundry to make special grades of steel in the next few years. Once the facility is operational, BMZ will be able to satisfy 100% of the domestic demand.
    
    Source : BelTA
    

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11. voda 29 september 2015 20:38

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    Tata Steel to resume iron ore sourcing from its Jharkhand mines
    
    Business Standard reported that Tata Steel will be allowed to lift its mined ore from Noamundi in Jharkhand following payment of its first tranche to the state government over the weekend
    
    A top official with Directorate of Mines and Geology, Jharkhand, told Business Standard “Tata Steel, over the weekend, has made a payment of INBR 124 crore to the state government. A letter will be sent to the company today so that it can start lifting the mined ore at Noamundi at the earliest.”
    
    He added “The company will make the second payment before November 15 and the final tranche before December 15.”
    
    Despatch of iron ore from the Noamundi mine to Tata Steel’s Jamshedpur plant had been stalled since early July after the state government stopped issuing the required permits that allow transportation of ore. Tata Steel had to make a total payment of INR 372 crore to the state government, which will now be done in tranches. Jharkhand’s move to ask the company to make this payment had come as an extension of an unresolved lease renewal.
    
    Source : Business Standard
    
12. voda 29 september 2015 20:38

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    Strike continues at Doroud steel plant in Iran
    
    TRENDNewsAgency reported that some 100 workers at Iran’s Doroud steel plant continued the 9th day of strike in protest against working conditions.
    
    Workers say their salaries have not been paid for three months and their insurance premiums have not been paid for three years, ILNA news agency reported Sept. 28.
    
    They also claim that 16 workers have been axed after their contracts were terminated.
    
    They are protesting against not being paid any fringe benefit over the past year.
    
    Last December, 150 workers of the plant launched a strike protesting against their low wages and lack of fringe benefits, as well as poor safety conditions.
    
    Source : TRENDNewsAgency
    
13. voda 29 september 2015 20:39

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    Visa Steel looking for strategic partner for special steel business
    
    The Hindu Business Line Visa Steel Ltd will get 18 months to find a strategic partner for its special steel business. The lenders have decided to move in this direction owing to losses in the special steel or alloy steel business.
    
    Visa Steel, which is in the process of transferring its special steel business to a wholly owned subsidiary, Visa Special Steel Ltd, has said that the lenders of the company, in a Joint Lenders Forum (JLF) meeting held on September 22, have decided to go in for Strategic Debt Restructuring (SDR) for the company’s special steel business.
    
    According to sources, Visa Steel was on the lookout for an overseas partner for its special steel business. The company’s coke and chrome businesses already have foreign partners.
    
    Visa Steel’s business transfer plan, through court, was to facilitate fund raising through a strategic investor.
    
    The company’s current debt is at over ?3,000 crore.
    
    Source : The Hindu Business Line
    
14. voda 29 september 2015 20:40

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    TATA Steel UK announces mothballing plans at Shotton plants in Wales
    
    Wales Online reported that Tata Steel UK is mothballing another site in Wales. Up to 40 jobs are under threat at the Tata Steel plant at Shotton as production is cut at the site. It comes a month after similar plans were announced for Llanwern in South Wales.
    
    The company has revealed that one of the two galvanising lines at the Flintshire plant will be mothballed as cheap Chinese imports and the strong pound hit the business.
    
    A spokesman for Tata Steel said they have told employees that they will be reducing operating capacity in hot dipped galvanising at the business in Shotton, which employs 800.
    
    He added: "One of our two galvanising lines will come out of production but will be retained so it can be restarted in more favourable market conditions. Our second galvanizing line at Shotton will be ramped-up to full-time operation. “
    
    He said “We continue to be in discussions with employees, their representatives and the employers of contractors and agency staff about possible implications for employment levels. Every effort will be made to redeploy any affected employees within the business.”
    
    They said the changes at Shotton will help them reduce costs and enable us to continue our focus on manufacturing higher-value products.
    
    Shotton is part of Tata Steel Colors and is the company’s premier location in Europe for the production of a unique range of metallic and paint coated products for the construction and domestic appliance sectors. Tata has several other operations on the Shotton site including units for the manufacture of composite profiled panels from organic painted steel strip.
    
    Source : Wales Online
    
15. voda 29 september 2015 20:43

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    NINL to restart steel making operation from Oct 15
    
    Business Standard reported that Neelachal Ispat Nigam Ltd, a joint venture steel company promoted by MMTC Ltd and the government of Odisha with 1.1 million tonne annual capacity, will restart steel making operation from October 15, this year. The steel mill, located at Duburi in Jajpur district, had halted steel making activity last year because of unfavourable market conditions.
    
    NINL, one of the largest producer and exporter of pig iron in the country, is encouraged to restart operations following imposition of safeguard duty on imported steel items.
    
    Mr Ved Prakash, CMD, MMTC, the principal promoter of the project said “With recent increase in import duty on various steel products and imposition of safeguard duty, there have been positive impact on steel prices.”
    
    He said the NINL board has already approved a proposal to expand the capacity of the plant from 1.1 million tonne at present, to 5 million tonne in two phases.
    
    The first phase upgradation, to cost about Rs 6,000 crore, will take the capacity to 2.2 million tonne while the phase-II work comprising attaining of the final objective of 5 million tonne steel output will be implemented with an investment of Rs 14,000 crore.
    
    Consultancy firm Mecon has been entrusted with the task of preparing the techno-feasibility report for the expansion project and the report is expected to be ready by December, 2015.
    
    The first phase will take 36 months from the zero date to complete and the second phase 4 years from that. The product mix after both the phases are completed will be hot rolled and cold rolled coils and sheets, wire and rods and special grade steel.
    
    Source : Business Standard
    
16. voda 29 september 2015 20:44

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    SSI mothballing leaves Tees steelmaking in grave danger
    
    The Northern Echo reported that crippling losses at the Teesside works prompted Thailand-based SSI to yesterday pull the plug on the last surviving blast furnace in the North-East. It is the second time this decade that the works has been mothballed and comes three and a half years since SSI brought the troubled site back to life.
    
    The region is reeling from the hammer blow decision by the owner of Teesside steelworks to mothball the blast furnace and make 1,700 people redundant. It has left 500 workers at SSI Redcar who will survive the axe and the future of one of the region’s key industries in grave danger.
    
    Plant boss Mr Cornelius Louwrens said: “There are no words that you can use that would be overstating it. This is huge. It is terrible. It is why we fought so hard to avoid this and why we need to continue to fight to see if we can bring this back.”
    
    The Redcar furnace – Europe's second largest - is being shut down this week and 45 day consultation talks have started between management and unions that will lead to 1,700 people losing their jobs.
    
    Up to 500 workers will be kept on to run the coke works as well the site’s power generators and materials handling operation. Coke will continue to be produced by the ovens and sold on the open market but a downturn in prices means SSI will make a loss on every tonne it sells.
    
    Unions called on the government to step in as they fear Bangkok-based SSI does not have sufficient cash to carry out a controlled mothballing and the site will suffer damage running into millions of pounds.
    
    Source : The Northern Echo
    
17. voda 29 september 2015 20:45

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    Vale cuts dividend in face of iron ore rout
    
    Brazil's Vale SA said on Monday it plans to cut its dividend for the year by $500 million in order to help shore up the miner's balance sheet in the face of weaker commodity prices, especially iron ore.
    
    The company had initially said it would pay $2 billion in dividends in 2015, packaged in two installments. On Monday it said the second installment would be cut to $500 million from $1 billion.
    
    The first payment was made in April.
    
    The proposed cut still needs to be approved by the company's board of directors.
    
    Source : Reuters
    
    
18. voda 29 september 2015 20:47

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    Analyse metaalsector: Tijd voor een volwaardig gesprek
    
    door Ertan Basekin
    
    Werkgevers en vakbonden in de metaalsector, waarin bijna 500.000 werknemers werkzaam zijn, blijven bij hun standpunten en willen van geen wijken weten.
    
    De FNV kondigt zelfs aan dat de stakingen harder en langer zullen worden. De actiebereidheid onder de werknemers zou veel groter zijn dan twee jaar geleden, toen metaalwerkers ook het werk neerlegden. Sterker nog, volgens de FNV hebben we te maken met de grootste stakingen in de metaalsector sinds veertig jaar.
    
    Bombarie
    
    Dat belooft wat, zou je denken. Met veel bombarie werd een driedaagse staking aangekondigd bij vrachtwagenfabrikant DAF Trucks. Maar inmiddels is duidelijk dat er vraagtekens gezet kunnen worden bij de enorme actiebereidheid in de sector. Volgens DAF Trucks zijn er 750 stakers, terwijl de vakbonden spreken van meer dan 1000. Beide getallen maken echter weinig indruk aangezien er bijna 6000 werknemers werkzaam zijn in de fabriek in Eindhoven. Er rolden de afgelopen drie dagen iets minder vrachtwagens per uur van de band, maar de productie ligt bij lange na niet plat. Geen Franse toestanden dus.
    
    Eindbod
    
    De stakingen maken dan ook weinig indruk op de werkgevers. In het grootmetaal is FME niet van plan om het eindbod van tafel te halen. De werkgeversorganisatie ergert zich juist aan de houding van de FNV. De vakbond zou tijdens de onderhandelingen nauwelijks bereid zijn te bewegen. In het kleinmetaal heeft de Federatie Werkgeversorganisaties Techniek het eindbod van tafel gehaald en de vakbonden FNV en CNV opgeroepen om de cao-onderhandelingen zo snel mogelijk te hervatten. Maar tot op heden is er nog niets concreets besproken en lijkt de oproep weinig uit te halen.
    
    Ramkoers
    
    De vakbonden en werkgevers liggen op ramkoers over het loon, seniorendagen, de flexibilisering, zeggenschap over werktijden, jeugdlonen en duurzame inzetbaarheid. De sociale partners geven ook aan dat ze heel graag nieuwe cao's willen voor het groot- en kleinmetaal. Een positief punt is dat een constructie zoals in de retail, waarbij de werkgevers hebben gekozen om een cao af te sluiten met de kleine vakbond AVV, niet reëel lijkt. Vakbonden en werkgevers in de metaalsector hebben al allerlei afspraken gemaakt, onder meer over de pensioenregelingen. De sociale partners lijken af te wachten wie als eerste toegeeft. En dat terwijl bijna 500.000 werknemers wachten op een nieuwe cao. Het is daarom tijd dat beide kampen uit de loopgraven komen en als volwaardige partijen het gesprek aangaan.
    
    Bron: DFT Premium
19. voda 29 september 2015 20:52

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    Roy Hill output to drive iron ore below USD 40 - Citigroup
    
    Bloomberg reported that according to Citigroup, new supply from Gina Rinehart's Roy Hill iron ore mine will contribute to a slump below USD 40 a metric ton next year. Citigroup described the new mine in the report on Monday as an "impending whale" that would ship almost all of its output to China.
    
    Mr Ivan Szpakowski of Citigroup said in a report “Surging production will combine with steel-output cuts in China to push prices below USD 40 in the first half.”
    
    Mr Ivan Szpakowski said "A more significant shakeout is likely in the first half of 2016 as Chinese mills reduce output while supply continues to build. The largest source of incremental supply is coming from Roy Hill. Output from Roy Hill will probably have a larger impact on benchmarks than new Brazilian supply as its ore will be similar to Rio Tinto Group's Pilbara Blend fines, closely matching the main index terms.”
    
    Citigroup said “While steel output in China was expected to hold steady over the next two months even as many mills registered losses, a significant decline was expected in the first quarter of next year. Chinese steel mills face some of their worst conditions ever, and the vast majority are currently losing money.”
    
    Citigroup forecast earlier this year that iron ore would drop to less than USD 40 in the final three months of 2015 as supply rose and Roy Hill began shipments. In contrast to expectations for a steady rise in Australian exports, volumes have been volatile this year, Szpakowski wrote on Monday, predicting that prices would drop to about $US50 over the next two months.
    
    The project in Australia's ore-rich Pilbara is poised to start shipments in October, and its expansion toward annual output of 55 million tons will probably have a large impact on prices
    
    Source : Bloomberg
    
    
20. voda 30 september 2015 16:19

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    Glencore zet herstel in
    
    AMSTERDAM (Dow Jones)--Het aandeel Glencore plc (GLEN.LN) herstelt dinsdag deels van de duikeling van een dag eerder, toen beleggers het grondstoffenbedrijf massaal in de verkoop deden vanwege zorgen om de hoge schuldenlast van het concern in combinatie met de nog altijd sombere vooruitzichten voor de grondstofmarkten.
    
    Het aandeel stijgt in Londen bijna 9%, waarmee het zich onttrekt naar de neerwaartse beweging van de markt. Het verlies is daarmee echter nog lang niet goedgemaakt. Maandag verloor Glencore circa 29% door vrees dat de grondstoffenhandelaar en mijnbouwer omvangrijkere maatregelen zal moeten nemen om de hoge schuldenberg te verminderen in het licht van de malaise op de grondstofmarkten.
    
    Beleggers zijn bang dat de koper- en kolenprijzen - twee van Glencore's belangrijkste producten - verder zullen dalen en dat dat zal leiden tot een lagere kredietwaardigheid bij de grote ratingbureaus.
    
    Glencore maakte drie weken geleden bekend de schuldenlast met $10 miljard te willen verlagen. Per eind juni stond het bedrijf voor bijna $30 miljard in het krijt bij zijn kredietverstrekkers en dat moet per eind volgend jaar $20 miljard worden.
    
    Dinsdag stelden analisten dat de koersdaling van Glencore overtrokken is geweest. E e n broker suggereerde dat het bedrijf wellicht van de beurs zal worden gehaald bij zo'n lage marktwaarde.
    
    "Wij zijn van mening dat wanneer de aandelenmarkten niet bereid zijn het bedrijf juist te waarderen, het management de onderneming van de beurs moet halen", zeggen analisten van Citigroup. CEO Ivan Glasenberg van Glencore is een grote aandeelhouder in het bedrijf.
    
    
    Door Alex MacDonald; Dow Jones Nieuwsdienst; +31 20 571 52 00; amsterdam@dowjones.com