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Glencore: increases 2017 EBIT target further.

(CercleFinance.com) - On Monday Glencore announced that it now expects EBIT of between 2.
6 billion and 2.8 billion dollars for the current fiscal year. The mining group previously expected between 2.4 billion and 2.7 billion dollars.

Operationally, copper production fell by 11% y-o-y in Q3, reaching 946,500 tonnes, and nickel extraction fell by 2% to 80,700 tonnes. However, zinc production rose by 5% relative to Q3 2016, reaching 827,400 tonnes.

As a reminder, last September the Financial Times (FT) echoed speculation from the equity research firm AlphaValue that Glencore and Rio Tinto could restart their merger project, now that the shares of both mining giants exceed their value of 2014. However, there has been no more news on this subject...

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