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Emesent granted US$2M to accelerate Cortex AI. Emesent, an autonomous mapping company, has won a US$2 million grant from the Australian government's Cooperative Research Centres Projects (CRC-P) program to [...] By David Cassels August 12, 2026 At 11:10 am Topics. Companies. Emesent, an autonomous mapping company, has won a US$2 million grant from the Australian government's Cooperative Research Centres Projects (CRC-P) program to develop and commercialize its Cortex AI platform. Cortex AI is the company's autonomous intelligence system to map GPS-denied and hazardous environments, like underground mines and tunnels. Emesent plans to deploy the system on a wider range of vehicles. Valued at US$5.1 million, the development and commercialization project is also supported by Queensland University of Technology (QUT) and EPE Corporation. "Emesent's vision is to be world leaders in autonomous digitization of the most challenging and unreachable places on earth. That starts with robots that can navigate and sense autonomously, without GPS, on any platform," said Farid Kendoul, Emesent's chief technology officer and co-founder. The news follows a recent US$17 million funding package to increase production capacity for the company's Hovermap ST-X, an autonomous drone designed to operate on Cortex AI. "Our team estimates that the GPS-denied autonomous mapping and navigation industry will reach $9B by 2030. Cortex AI is the engine that makes this scale possible," Kendoul added. Emesent's Hovermap systems have been deployed by several major mining companies including Rio Tinto, BHP and Glencore.

Indian refiners continue West Africa crude buying spree. India's state-run refiners continue their buying spree of crude from West Africa as the Middle East crisis has sapped supply and made deliveries uncertain. In one of the latest purchases via a tender, India's state-owned refiner Hindustan Petroleum Corporation Limited (HPCL) has acquired 2 million barrels of Nigerian crude oil from Shell, trade sources told Reuters on Thursday. HPCL has bought 1 million barrels each of Nigerian crude grades Forcados and Bonga for its Visakh refinery in the state of Andhra Pradesh on the east coast of southern India. The refinery has the capacity to process 300,000 barrels per day (bpd) of crude. Earlier this week, reports emerged that HPCL acquired 2 million barrels of Okwuibome and Utapate crudes from Nigeria from commodity trader Glencore via a tender. The Nigerian crude from Glencore will go to feed HPCL's refinery in the state of Rajasthan, HPCL Rajasthan Refinery Limited (HRRL), which has a capacity to process 180,000 bpd and in which Hindustan Petroleum holds a 74% stake. The remaining stake is held by the state government of Rajasthan. Several Indian refiners have recently bought crude from Oman and West Africa via tenders, as term supplies from the Middle East remain choked by the shipping constraints at the Strait of Hormuz and Bab el-Mandeb. State-controlled Mangalore Refinery and Petrochemicals Limited (MRPL) has acquired about 1 million barrels of crude oil from Oman via a tender, at a premium of some $3 per barrel to Dated Brent, from Mitsui & Co Energy Trading Singapore, trade sources told Reuters earlier this week. In addition, state-run Indian Oil Corporation, the largest refiner by capacity in the country, has bought from Chevron a total of 4 million barrels of West African crude, including Nemba, Saxi Batuque, and Clov grades from Angola, and Congo's Djeno crude. Indian refiners are in search of crude supply from as far as Angola in Africa and Venezuela in South America as their term supplies from the Middle East were trapped again in July and unable to reach India as planned. More Top Reads From Oilprice.com

Glencore share price heads to June highs as it reports $10.1 billion first-half core earnings and $3.5 billion shareholder returns. - Last updated: Thursday, August 6, 2026 Quick overview. * Glencore shares rose 2.7% following a strong first-half performance, driven by soaring energy-trading profits and higher commodity prices. * The company's adjusted EBITDA surged 86% to $10.1 billion, with a profit of $4.4 billion compared to a loss of $655 million a year earlier. * Glencore's energy trading division saw EBIT increase dramatically to $2.66 billion, capitalizing on market volatility. * The company plans a secondary listing on the Australian Securities Exchange to broaden its investor base and improve trading liquidity. Glencore shares climbed 2.7% after a powerful first-half performance, with soaring energy-trading profits, stronger commodity prices and billions in shareholder returns highlighting the company's ability to capitalize on volatile markets. Glencore stock rises after strong H1 results. Glencore shares jumped 2.7% following the release of a powerful first-half 2026 earnings report, as the commodities giant benefited from higher prices and exceptional trading conditions across global energy markets. First-half adjusted EBITDA surged 86% to $10.1 billion, while revenue increased 49% to $174.43 billion. Glencore also swung from a $655 million loss a year earlier to a $4.4 billion profit. The results demonstrate the strength of Glencore's diversified business model, particularly when commodity and energy markets become volatile. Energy trading becomes a major profit engine. Glencore's marketing division delivered one of the biggest improvements. Marketing adjusted EBIT more than doubled to $3.3 billion, while the industrial business increased adjusted EBITDA by 72% to $6.5 billion. Energy trading was particularly impressive. Glencore's energy-trading EBIT exploded to $2.66 billion, compared with just $40 million a year earlier. Oil, LNG and shipping-market volatility created an environment in which Glencore could exploit price differences and shifting supply conditions. Crude and fuel trading volumes also increased approximately 24% to around 5.2 million barrels per day. The results highlight an important characteristic of Glencore: volatility can become a significant earnings opportunity rather than simply a risk. Strong cash flow supports shareholder returns. Glencore also strengthened its balance sheet despite significant investment. Net debt declined by approximately $1 billion to $10.2 billion, even after the company spent around $4 billion on capital expenditure. Management is returning substantial amounts of capital to shareholders. Glencore declared another $1 billion special distribution and announced a new $500 million share buyback, taking total announced shareholder returns for 2026 to approximately $3.5 billion. The special distribution includes 8.5 cents per share, funded by surplus capital associated with Bunge shares received through the merger of Glencore's agribusiness Viterra with the US commodities trader. Full-Year outlook remains strong. Based on current commodity prices and stronger expected second-half volumes, Glencore estimates illustrative full-year adjusted EBITDA could reach approximately $19.7 billion. That outlook provides further support for the stock, although much will depend on whether the unusually favorable trading environment persists. The major question for investors is whether today's exceptional energy-trading profits represent a new earnings base or a temporary benefit from extraordinary market volatility. A powerful uptrend gains momentum. Glencore's share price has been trending higher since April 2025, rebounding from around R53 and nearly doubling in less than twelve months, sending BLNJ share price above R136 in June, placing it firmly to the new all-time high but Leaders sa saw a pullback to R108. However the 200 daily SMA in purple held as support and Leaders sa has seen a rebound toward the June highs. GLNJ chart daily - The resistance has been broken. Leaders sa has seen a couple of pullbacks since then, but the zone around R100 has turned into support and now the stock is trading above R100 again. This sustained technical strength has attracted renewed institutional interest, with takeover speculation acting as a catalyst rather than the sole driver of gains. Glencore targets Australian listing. Glencore is also preparing for a secondary listing on the Australian Securities Exchange, with admission targeted for October. CEO Gary Nagle said the company had seen increased investor interest and that the listing could broaden its investor base while improving trading liquidity. The move could attract additional mining-focused investors and potentially increase the company's visibility in one of the world's most important mining markets. Conclusion Glencore's H1 2026 results were exceptionally strong, with EBITDA up 86%, profit returning to $4.4 billion and energy-trading earnings exploding higher. The combination of strong cash generation, lower debt and approximately $3.5 billion in announced shareholder returns provides a powerful backdrop for the shares. However, the next test will be whether Glencore can maintain such extraordinary trading profits if energy markets become calmer. For now, the company is clearly demonstrating that when global commodity markets become chaotic, Glencore can turn volatility into an earnings advantage. 10 best Forex brokers. | / | MIN DEPOSIT $100 | Visit Now | | / | MIN DEPOSIT $0 | Visit Now | | / | MIN DEPOSIT $100 | Visit Now | | / | MIN DEPOSIT $250 | Visit Now | | / | MIN DEPOSIT $0 | Visit Now | | / | MIN DEPOSIT $2,000 | Visit Now | | / | MIN DEPOSIT $0 | Visit Now | Skerdian Meta Lead Analyst Skerdian Meta Lead Analyst. Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming its head analyst, Skerdian served as a trader and market analyst in Saxo Bank's local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.