Mining giant Glencore reports $676m first-half loss

GMT 11:23 2015 Wednesday ,19 August

Arab Today, arab today Mining giant Glencore reports $676m first-half loss

Zurich - AFP

Swiss mining and commodities giant Glencore on Wednesday reported a first-half loss of $676 million (620 million euros) on the back of falling prices in the metals market and asset depreciation.

In the first half of 2014, Glencore recorded profits of $1.7 billion.

Glencore shares have fallen by 40 percent this year, reflecting investor mood about mining firms amid fears slower economic growth in China will hit demand.


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