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Glencore plc Ord USD0.01
-3.10 (-1.12%)Market closed | Prices delayed by at least 15 minutes | Switch to live prices
Glencore says most of its operations have not seen any material impact from COVID-19 disruption.
However, since last reporting on 26 March, new government guidance in Canada, South Africa, Colombia and Peru has impacted certain assets.
The shares remained broadly flat on the news.
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COVID-19 update
In Canada, Glencore is now looking at restarting nickel and zinc operations before 4 May. While the Canadian lockdown has been extended, Mining is now recognised an essential activity by the government.
Colombian and South African lockdowns have been extended, so the group's mining operations remain closed for now. In Peru, the Antamania copper and zinc mine of which Glencore owns a 33.75% share, will see operations halted for 2 weeks.
Glencore plans to announce further production details, including Q1 results and guidance for 2020, on 30 April.
Previous COVID-19 update (31/03/20)
In light of disruption caused by COVID-19 Glencore announced it would defer the decision on whether to pay its $0.20 per share dividend until the third quarter of 2020.
Glencore reported having access to $10.1bn in committed available funding. The group confirmed it had refinanced its revolving credit facilities and the funds had no specific financial obligations attached, known as covenants, it must meet to satisfy the terms set by its lenders.
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