Overview
- Glencore reported 2025 net income of about US$363 million after a prior-year loss, with adjusted EBITDA down 6% to roughly US$13.5 billion.
- The board declared a US$2 billion return to shareholders, comprising a 10‑cent base distribution and a 7‑cent top‑up supported by the value of its Bunge stake.
- Management highlighted a strong second half, with group earnings up roughly 49–50% from H1 and industrial profits up 65% as copper and zinc offset weaker coal.
- The company targets around 1.0 million tonnes of copper by end‑2028 and about 1.6 million tonnes by 2035, guiding US$26–28 billion of CapEx for 2026–2028 and reporting US$8.7 billion in funds from operations.
- Glencore finalized a land‑access agreement with DRC state miner Gecamines for Kamoto, which it says will extend mine life, improve productivity, lower costs and support long‑term copper output, while remaining open to large M&A after valuation disputes ended Rio Tinto talks.