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Jones is a Glencore stalwart having first joined the company in 1990, rising to head of oil derivatives marketing in 2007 before becoming the firm’s chief risk officer prior to its London listing almost three years ago.

Several senior Glencore executives became billionaires with the firm’s 2011 IPO, including Chief Executive Ivan Glasenberg who still owns 8.3 percent of the company and global head of oil trading Alex Beard who owns over 2 percent.

Read more at: http://in.reuters.com/article/2014/04/08/us-glencore-xstrata-kelleher-idINBREA371JJ20140408

It is possible that Tesla, a business widely known for its innovation, would resort to giving away solar energy-powered electricity generating equipment to residents of a community, allowing them to become electricity generators and sell the self-producing electricity to Tesla.

Could such a “scattered supply” of electricity break down the traditional monopoly of national electricity generators on the mainland?

The business journal also pointed out that the key substance used for the production of lithium batteries is cobalt, mainly found in Congo and Cuba. The cobalt deposits in Congo account for over 35% of the world’s total, the journal said.

The cobalt used to make Tesla’s lithium cells is now being sourced from the Philippines, a client of Japan’s Sumitomo Group that sells cobalt to Panasonic. If Musk’s “gigafactory” wanted to produce lithium cells itself, it would have to secure a source supplier bigger than the Philippines.

Read more at: http://www.wantchinatimes.com/news-subclass-cnt.aspx?id=20140407000108&cid=1206

The cars to be exported to the EU countries this month can travel 594 kilometers on a single charge and has a gasoline mileage equivalent of 27.8 km on a liter of fuel, as checked by the New European Driving Cycle, Hyundai said.

Read more at: http://www.globalpost.com/dispatch/news/yonhap-news-agency/140404/hyundai-motor-picked-supplier-fuel-cell-electric-cars-eu

The Shongololo is part of a 201 billion-rand ($18.8 billion) rail overhaul and expansion plan aimed at boosting exports of coal, manganese and other commodities from Africa’s biggest economy. It’s being rolled out by Transnet SOC Ltd., the state-owned ports and rail operator, tapping the expertise of GE, Bombardier Inc., CSR Zhuzhou Electric Locomotives Co. and China CNR Corp. to manufacture the locomotives locally and increase freight capacity.

Read more at: http://www.bloomberg.com/news/2014-04-05/south-africa-18-billion-rail-plan-lifts-mining-exports.html

Jakarta. Bumi Resources, the coal mining unit of the Bakrie Group, has finally secured shareholder approval for its debt-to-share swap deal with China Investment Company after two previous attempts failed.

Dileep Srivastava, a director at Bumi Resources, told reporters that shareholders representing a 63 percent voting rights had agreed to the three resolutions needed to proceed with the CIC deal, in the third extraordinary shareholder meeting seeking approval for the deal.

He added that a minimum of 40 percent of shareholders’ votes was required for the resolutions.

To pay a portion of its $1.3 billion debt to CIC, Bumi will relinquish a 19 percent stake in the company’s coal miner Kaltim Prima Coal and a 42 percent stake in Bumi Resource Minerals.

Read more at: http://www.thejakartaglobe.com/business/indonesias-bumi-resources-debt-share-swap-given-clear/