Record earnings for Glencore as energy prices soar

London-listed global diversified miner and commodities marketer Glencore enjoyed earnings growth of 60% in 2022 as it benefited from higher international coal prices.

The company, which has a secondary listing on the JSE, increased coal output from its own mining activities by 7% to 110-million tonnes. This was a major contributing factor to the 59% increase in adjusted ebitda of $27.3bn from its industrial operations. Earnings from coal mining accounted for about two-thirds of total earnings...

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