Glencore thrives in a more dangerous world


glencore the maverick of the mining world, has long been accustomed to doing business in unstable places. Now that the whole world seems unstable, it’s no surprise to see Glencore doing well. In particular, his decision to resist pressure to divest from coal seems prescient.

The world’s top coal exporter reported a doubling of profits in the first six months of 2022 on Thursday, largely due to soaring coal prices as the world scrambles for energy amid geopolitical turmoil. croissants. The company’s trading business also benefited from volatility in a range of commodities following Russia’s invasion of Ukraine. It said it would return an additional $4.45 billion to shareholders through dividends and share buybacks.


Wj

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