WRITTEN BY: OLIVIA HARTLAND-ROBBINS

COPPER BOTTOMED: GLENCORE’ S BLOCKBUSTER H1 SURGE

Glencore posted a blockbuster first half, with adjusted EBITDA jumping 86 % to US $ 10.1bn as copper prices hit record highs and its trading division delivered one of its strongest periods ever. The miner announced a US $ 1bn special cash distribution and a US $ 500m share buyback while reaffirming 2026 copper guidance of up to 870 000 tonnes. CEO Gary Nagle said the group remains on track for 1.6 million tonnes of annual copper production by 2035.

20 October 2026