And further on the way to making my position "full".
"Full" = in my case approx. 7000€ equity per position
Once I've done that, the individual share portfolio will look really nice and I'll add new positions.
But until then I still have a lot of work to do.
OPINION by
TIISETSO MOTSOENENG: The new boss of the copper industry? Glencore's big moment after the BHP-Anglo drama
With the Australian giant sidelined by UK takeover rules, Glencore is in a position to make a move.
The recent $49 billion takeover saga of BHP and Anglo American was a spectacle of strategic orchestration. But as the dust settles on BHP's retreat, a new opportunity is emerging for Glencore, a company that has quietly but handsomely profited at the center of the global energy transition.
With BHP now sidelined by UK takeover rules and unable to make another bid to Anglo for six months, Glencore is in an enviable position to make its move. The $70 billion-plus mining giant had been considering making a rival bid for Anglo, according to a Reuters report citing unnamed sources.
Glencore's interest, if true, is not just to expand its portfolio; it is a calculated move in the chess game of global energy transition. Adding Anglo's coveted copper operations would boost Glencore's copper production to nearly 2 million tons and appease skittish shareholders such as BlackRock, who have put pressure on the company to demonstrate its commitment to reducing carbon emissions and playing a bigger role in the global energy transition.
Copper is a crucial metal for the transition. It is used in everything from electric vehicles and power grids to construction, and demand is expected to increase as the world transitions to cleaner energy and the wider use of artificial intelligence. A stronger presence of this metal would set Glencore apart from its peers, some of which trade at a premium to Glencore.
But let's not kid ourselves: A deal between Glencore and Anglo won't be a walk in the park. Glencore will have to negotiate a deal that is attractive enough to convince Anglo's shareholders, but sharp enough to get regulatory approval. It's a delicate balance.
Still, Glencore has a lot going for it should it take on Anglo. For one thing, the company has established links in South Africa and its potential interest in the country's iron ore deposits, which BHP did not want, could make it a more suitable partner for Anglo.
Secondly, the failed BHP-Anglo deal has exposed the strategies and ambitions of both companies. Now it is up to Gary Nagle, Glencore's chief executive, to come up with a proposal that avoids the complexities and implementation risks that undermined BHP's takeover. That proposal must be compelling enough to convince shareholders to buy into the promises of Anglo's vision to run with the wind, chase the setting sun and discover what lies beyond the edge.
And given its poor track record on mergers and acquisitions (M&A), it's not far-fetched to assume Rio Tinto would skip this one. Analysts estimate that the company has had to write off a whopping 54 billion dollars from its balance sheet since 2007 due to missteps in its deals.
So what's the bottom line? With BHP out of the running for at least six months and Jakob Stausholm, Rio Tinto's chief executive, not about to face a poor M&A record or the wrath of shareholders, Glencore has a golden opportunity to make a name for itself. The next six months will be crucial and all eyes will be on Glencore. Will the company take the plunge and close the deal? Only time will tell, but one thing is beyond doubt: the story did not end last week.
