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ZURICH: Mining and commodities trading giant Glencore posted Thursday a net loss of $2.6 billion for the first half of the year and suspended dividend payments to shareholders as it took massive coronavirus-related charges.
While the Swiss-based firm remained profitable on an operating basis - $1.5 billion in adjusted earnings before interest and taxes - it booked impairment charges of $3.2 billion. Glencore said it booked the charge as "a result of lower commodity prices related to the economic uncertainty arising from the Covid-19 pandemic".