The Conversation (0)
Glencore (LSE:GLEN) reported a $5 billion loss for 2015, according to the Wall Street Journal, which makes last year one of the company’s worst ever performances. However, CEO Ivan Glasenberg was quoted as saying on a call with reporters, “Have we bottomed? I think so.”
Glencore (LSE:GLEN) reported a $5 billion loss for 2015, according to the Wall Street Journal, which makes last year one of the company’s worst ever performances. However, CEO Ivan Glasenberg was quoted as saying on a call with reporters, “Have we bottomed? I think so.”
As quoted in the publication:
Mr. Glasenberg’s upbeat remarks run counter to some other mining executives, who have said they continue to expect more pain in 2016. Glencore’s results put an exclamation mark on a dismal 2015 for which $32 billion of losses were reported by the world’s five largest independent miners—Glencore, BHP Billiton Ltd., Rio Tinto PLC, Vale SA and Anglo American PLC.