London, May 18, 2026, 11:07 BST
Glencore shares edged up Monday. The miner said a Chilean environmental decision on the Collahuasi copper operation is not expected to affect production right now. That eased fresh worries around new permitting risk for one of Glencore’s top copper assets.
Glencore shares were quoted at 574.95 pence, up 0.1%, in a Cboe Europe snapshot at 11:03 BST. The stock slid 3.6% Friday to 574.30p after hitting 597.90p Thursday, so it’s still near last week’s high but the trend isn’t as clear now. MarketScreener
Copper is in focus for Glencore’s stock. CEO Gary Nagle told investors in February the group is targeting over 1 million tonnes of copper a year by late 2028 and wants to reach 1.6 million tonnes by 2035. He called this “clear momentum” for Glencore’s copper push. Glencore
Glencore said Chile’s Second Environmental Tribunal moved to annul Collahuasi’s 2021 Environmental Authorisation in a ruling dated May 15. The permit, called the RCA, included infrastructure and capacity projects such as a desalination plant now almost finished. Glencore said the tribunal focused on impacts to a local community and the nearby marine area. SHARENET
Collahuasi isn’t just Glencore’s project. According to Mining Weekly, both Glencore and Anglo American each own 44% of Compañía Minera Doña Inés de Collahuasi. The last 12% is with a Japanese consortium led by Mitsui. So, the issue also matters for another top London peer. Mining Weekly
Glencore put a cash return on the table Friday, saying it plans a $0.085 per share capital return on June 3. The payout, which still needs sign-off from shareholders at the 2026 annual meeting, will set sterling, euro, and Swiss franc amounts using May 13 exchange rates. Glencore
Glencore’s first-quarter numbers showed a better business picture than the ongoing legal issues might imply. The company said own-sourced copper output climbed 19% to 199,600 tonnes in the quarter. CEO Gary Nagle said production was “largely in line” with what the company expected and stuck with its full-year 2026 production guidance. Glencore
European stocks dropped Monday. Inflation worries weighed on markets and ongoing U.S.-Iran war tension hurt risk assets. Michele Morganti, equity strategist at Generali Investments, said Europe’s stocks are still “at risk compared to the U.S.”, citing earnings and energy as key factors. Reuters
Peer mining moves back into the spotlight. Anglo American on Monday agreed to sell its Australian steelmaking coal mines to Dhilmar for as much as $3.88 billion. The company is getting leaner ahead of a planned merger with Teck Resources. CEO Duncan Wanblad said this deal would “complete our exit” from steelmaking coal. Reuters
Collahuasi isn’t off the table. If Chilean regulators push for a closer look, or if planned water supplies fall short, investors could start pricing in more delay risk for the expansion. Glencore has said before that Middle East conflict is raising input costs, with prices for diesel and sulphuric acid already higher.
Glencore’s calendar could move shares. The annual general meeting is booked for May 28. The company will put out its half-year production report on July 29, and half-year results follow on Aug. 5. Glencore
