Glencore says Ebitda down 17% in H1; no word on Xstrata

Global mining and trading group Glencore International posted a 17% fall in first-half earnings and warned there could be little improvement in commodities markets in the second half of 2012.

The group, which gave no hint of a new move in its takeover bid for Xstrata, said earnings before interest, tax, depreciation and amortisation (Ebitda) dropped to about $3.20 billion, compared with $3.85 billion a year earlier. Lower metals and raw materials prices and a weaker market in China have damaged earnings at all...


Steel MR

August 21, 2012

06:21 GMT