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Glencore plc is a Anglo-Swiss multinational commodity trading and mining company with headquarters in Baar, Switzerland.Glencore's oil and gas headquarters are in London, England as well as its primary listing being on the London Stock Exchange, and it is one of the largest components of the FTSE 100 by market capitalization.
In 2012 mining giant Glencore bought the remaining 66% share in Xstrata, taking over the McArthur River Mine. [13] In 2013, the Northern Territory Government approved another $360 million expansion that would double its size and production, extending the life of the mine to 2038. [ 14 ]
The project was initiated as a joint venture between Murrin Murrin Holdings Pty Ltd, a wholly owned subsidiary of Anaconda Nickel Limited (whose share was 60%) and Glenmurrin Pty Ltd, a wholly owned subsidiary of Glencore International AG, which had a 40% share. [2] In 2003 Anaconda changed its name to Minara Resources Limited.
In 2017, Glencore paid $534 million to buy a 31% stake in Mutanda from Dan Gertler's Fleurette group. This deal valued the 31% stake at $922 million, since it also involved the settlement of several hundred million dollars of loans Fleurrette owed to Glencore. Glencore now claims 100% ownership of the Mutanda mine. [25]
Marc Rich (born Marcell David Reich; December 18, 1934 – June 26, 2013) was an international commodities trader, financier, and businessman.He founded the commodities company Glencore, and was later indicted in the United States on federal charges of tax evasion, wire fraud, racketeering, and making oil deals with Iran during the Iran hostage crisis.
Trafigura is the third-largest physical commodities trading group in the world behind Vitol and Glencore. [60] Trafigura sources, stores, blends and transports raw materials including oil, refined petroleum products and non-ferrous metals, iron ore, and coal. [15] [61] It more recently added a third division, focused on gas, [7] power, and ...
The Rosh Pinah mine is a mine near Rosh Pinah in the ǁKaras Region of southern Namibia.It is one of the largest and most important lead and zinc mines in Namibia.The mine is located in the extreme southwest, about 20 kilometres (12 mi) north of the Orange River and 50 kilometers east of the Atlantic. [1]
During his tenure Glencore substantially increased their global business to trade over 5Mb per day of crude and products. Beard also created the RussNeft joint venture for production in Russia as well as invested in shipping, refining and storage assets. In June 2019, it was announced Beard would step down as the head of Glencore's oil division ...