Glencore Dips in London as Congo Worker-Equity Law Puts Copper in Focus
Glencore shares fell again on Friday, dropping 0.6% to 562.6 pence as the miner faces fresh uncertainty from a new ownership rule in the Democratic Republic of Congo and softer copper prices. That adds to Thursday’s almost 3% slide. Congo miners want more time on a new rule forcing them to give workers a 5% equity stake before July 31. Industry leaders say it's still not clear if current owners need to give up shares or if the rule covers the past. Glencore, Ivanhoe Mines, CMOC, and Eurasian Resources Group discussed how to respond with Congo’s Chamber of Mines on June 11. Glencore would not comment.
