Glencore darts ahead of diversified rivals

The strength of the business model and commodity mix of mining and marketing company Glencore has been demonstrated once again by sharp increases in earnings and net income in the six months to June 30. The earnings before interest, taxes, depreciation and amortisation (Ebitda) of the 146 000-employee group rose 23% to $8.3-billion and net income was 13% higher, buoyed by impressive mine cost and margin performance.