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    Sergey Donskoy

    Senior Analyst and Director at Societe Generale

    Sergey Donskoy is a Senior Analyst and Director at Societe Generale Corporate & Investment Banking, specializing in research coverage of major players in the mining and metals sector such as Glencore and ArcelorMittal. Renowned for his high-performance track record, Donskoy boasts a 94% success rate and an average return of 43.6% per recommendation, earning him a 4.11-star rating among Wall Street analysts. He began his career over 15 years ago and has held the position of Senior Analyst, Director at Societe Generale since 2011. Donskoy is recognized for his deep sector expertise, though specific securities licenses or FINRA registration details are not publicly available.

    Sergey Donskoy's questions to Glencore plc/ADR (GLNCY) leadership

    Sergey Donskoy's questions to Glencore plc/ADR (GLNCY) leadership • Q2 2017

    Question

    Sergey Donskoy questioned Glencore's M&A strategy, asking about its appetite for more coal assets, the IRR hurdles for deals versus returning cash to shareholders, and the company's assessment of political risks associated with its major expansion projects in the Democratic Republic of Congo (DRC).

    Answer

    CEO Ivan Glasenberg stated that M&A is opportunistic rather than commodity-specific, citing the Hunter Valley deal as a unique situation. He noted a target IRR of around 15% for acquisitions. Regarding the DRC, Glasenberg acknowledged the political risks but highlighted that the operations are geographically distant from the capital. He also pointed out that any major disruption in the DRC would significantly raise copper and cobalt prices, creating a natural hedge for Glencore's broader portfolio.

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