Glencore Mining Company incurred its first annual net loss since 2015, with the company's net losses reaching $ 404 million for the year ended December 31, compared to Profit of 3.41 billion in the previous year.
According to Reuters, the losses of the company listed in London and operating in more than 150 countries, while bearing the expenses of a devaluation in its coal operations in Colombia and oil fields in Chad and copper and cobalt activities in Africa.
Core earnings - adjusted earnings before interest, taxes, depreciation, and amortization - were $ 11.60 billion, exceeding analysts ’estimates of $ 11.25 billion.
