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Glencore's copper-bottomed portfolio will help it through rough patch

It will be up to Gary Nagle, who takes over from Ivan Glasenberg, to make current tailwinds pay off. If he fails, the recent share price recovery will not last.

The Lex Column
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Glencore boss Ivan Glasenberg knows that investor days can be hard grinds. His departure, announced on Friday (Saturday AEDT), means this is his last one.

The miner has spent years down in the dumps, outshone by peers such as Rio Tinto and BHP. Both have profited handsomely from runaway iron ore prices, which Glencore does not make. A surge in copper prices has enabled Glencore’s share price to catch up since the northern summer.

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    Original URL: https://www.afr.com/companies/mining/glencore-s-copper-bottomed-portfolio-will-help-it-through-rough-patch-20201206-p56kzf