|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's range||9.20 - 9.43|
|52-week range||5.59 - 10.79|
|Beta (5Y monthly)||1.62|
|PE ratio (TTM)||31.37|
|Forward dividend & yield||0.32 (3.40%)|
|Ex-dividend date||02 Sept 2021|
|1y target est||N/A|
(Bloomberg) -- Zinc rallied as Glencore Plc said it’s preparing to shut down production in Italy, adding to cuts already made elsewhere in Europe as high energy prices continue to hit the continent’s industrial base.Most Read from BloombergAsia’s Richest Man Looks to Walton Family Playbook on SuccessionNew York City Is Building a Wall of Oysters to Fend Off FloodsA Denser City, But at What Cost?The Women Behind Historic House DesignsFrom Bathhouses to Fisheries, Hidden Inflation Is Creeping Acro
LONDON (Reuters) -Miner and commodity trader Glencore will put its zinc sulphide operation in Portovesme, Italy, on care and maintenance until there is "a meaningful change in power market prices", the company said on Monday. The plant, which has capacity of 100,000 tonnes a year, will enter care and maintenance by the end of December at the latest. European power prices have soared this year, mainly because of the rising price of natural gas used for power generation and heating, low renewable energy output and higher carbon prices.
The acquisition will double Evolution Mining's annual copper production from its earlier forecast to between 34 kilotonne (kt)-38 kt, driving all-in sustaining cost (ASIC) lower to about A$90 – A$100 per ounce. The deal, expected to close in January 2022, also includes an offtake agreement sealing the supply of 100% of the copper produced at the mine to Glencore, the companies said in a separate announcement. The deal will see Evolution fully own and operate the Ernest Henry Mine in which it held a stake since November 2016 via a joint venture structure with Glencore.