Market News Commodities giant Glencore says production, prices up during first 9 months |
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GENEVA - Commodities giant Glencore International says it has increased its metals, coal and agricultural production during the first nine months of the year. The Switzerland-based company says commodities prices also rose during the first three quarters compared with the same period last year. Glencore says the average gold price increased 30.3 per cent year-on-year in the period through September. The company's production update Thursday didn't provide a breakdown of quarterly profits due to reporting changes since its $10 billion IPO in May. Last year, Glencore posted a net profit of $979 million for the third quarter. Glencore announced Wednesday that it planned to make a mandatory offer for a controlling stake in South Africa's Optimum Coal. Authors: Commodities - Yahoo! News Search Results |
