The corruption scandal involving Glencore, which came to light at the end of May, will not have affected the financial solidity of the Anglo-Swiss group. The FTSE 100 group (the stock market index that references the 100 largest companies listed on the London Stock Exchange by capitalization) has just published strong results, with record profits in the first half of this year.
The good health of its “coal” activity, which the giant of the mines and brokerage of raw materials has retained, against the tide of its main competitors who have withdrawn from the fuel now decried, represents almost half of the results beneficiaries, at 18.9 billion dollars (nearly 18.5 million euros, more than double than in the first half of 2020).
Gas, oil, coal: can Africa defuse its “climate bombs”?
Thanks to these profits exceptional, Glencore intends to put more emphasis on the coal division, which generated profits of $ 8.9 billion, more than the company as a whole made in the first six months of last year . The group argues that coal will be needed during the energy transition in many parts of the world – especially in Africa – and that it is better for the company to reduce its production over the next thirty years rather than to s’en to separate.