The strength of the commodity mix of mining and marketing company Glencore has been demonstrated once again by the London- and Johannesburg-listed company’s sharp increases in earnings and net income in the six months to June 30. Earnings before interest, taxes, depreciation and amortisation (Ebitda) of the 146 000-employee group rose by 23% to $8.3-billion and net income by 13%, with mine cost and margin performance impressing on the upside. Gold-assisted zinc came in at the amazing negative cost of -11c/lb, copper was at 88c/lb, nickel at 177c/lb and coal achieved a $35/t margin on a $50/t unit cash cost.