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Glencore earnings cut in half but CEO says things are healthy

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Company is still planning to acquire other mining operations to improve its global stake in transition metals

Glencore share values have nosedived on the FTSE 100 Exchange in the UK, but the company said it is still in mergers-and-acquisitions mode despite the low revenue numbers for the first half of the year.

Glencore's adjusted core earnings, or earnings before interest, tax, depreciation and amortization , fell to US$9.39 billion in the six months through June, from US$18.92 billion a year earlier, said a summarized report from Reuters. Many analysts called the H2 results disappointing, but at the same time, the company was able to return $2.2 billion to shareholders.

 

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