The mine collapse is caused by artisanal diggers who flooded the mine and engaged in anarchic exploitation.
This comes as the Norwegian parliament agrees to no longer invest in companies that mine more than 20 million tonnes of coal annually.
London-listed Glencore bought 200,000 tonnes of aluminium on the LME in January and made preparations to take it from a warehouse in Port Klang.
Glencore's strong cash generation would allow it to pay out roughly US$2.8 billion in dividends to shareholders.
Demand continues to increase as cities expand and electric vehicles gain traction but nobody who owns a copper mine is willing to sell.
The announcement comes two days after US authorities demanded documents relating to possible corruption and money laundering regarding Glencore’s business over the past decade.
The world’s biggest commodity trader said Tuesday that it’s been subpoenaed by the US Department of Justice to hand over documents related to the Foreign Corrupt Practices Act and US money laundering statutes.
Shares in Glencore, a major exporter of Nigerian and Venezuelan crude, fell more than 10% in early London trade. The company was the top loser on the British bluechip index.