Glencore Plans Secondary Listing on Australian Stock Exchange by 2026
Glencore, the Anglo-Swiss mining giant, announced a secondary listing on the Australian Securities Exchange (ASX) in October 2026 to access Australia’s A$4.4 trillion pension market and mining-focused investors. CEO Gary Nagle cited undervaluation and low liquidity in London as key reasons. The move pressures London’s mining finance hub status, following BHP’s primary listing shift to Sydney. Glencore also reported strong first-half earnings of $10.1 billion, up 86% year-on-year.
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Glencore Plans Secondary Listing on Australian Stock Exchange, Dealing Blow to London Market
Glencore, the Anglo-Swiss mining and trading giant with a £64.4bn market cap, announced it will pursue a secondary listing on the Australian Securities Exchange (ASX) in October 2026. The move is the latest blow to London's struggling stock market as miners seek better liquidity and valuation elsewhere. CEO Gary Nagle cited Australia's large and fast-growing pool of long-term investment capital and sophisticated investor base with deep resources sector expertise. Glencore operates multiple mines in Australia and has significant coal exposure. The announcement follows long-standing complaints that Glencore's shares are undervalued and illiquid in London. Shares rose 3.5% on the news. The ASX welcomed the intention, calling itself the natural home for world-class resources companies. This follows BHP's switch to primary listing in Australia in 2022 and activist pressure on Rio Tinto's London listing. Anglo American, however, is keeping its primary listing in the UK.
Glencore plans secondary listing in Australia to tap copper growth and pension capital
Glencore, the Swiss mining and commodities giant, announced plans for a secondary listing on the Australian Securities Exchange (ASX) in October 2026 to access Australia's A$4.4 trillion pension market and mining-focused capital. CEO Gary Nagle said the move supports the company's copper growth strategy and enhances M&A flexibility, particularly after the expiration of a standstill following failed merger talks with Rio Tinto. The listing adds pressure on London's position as a global mining finance hub, following BHP's primary listing shift to Sydney in 2022. Glencore expects to qualify for the ASX 200 index within 12 months. The company also reported strong first-half earnings of $10.1 billion, up 86% year-on-year, and disclosed it has cut ties with Singapore-based iron ore trader Radiant World over alleged fraudulent documents. Australian investors broadly welcomed the proposal, though some raised concerns about liquidity and Glencore's thermal coal exposure.
Glencore plans secondary listing in Australia to tap mining capital and boost copper push
Glencore, the Swiss mining and commodities giant, announced plans for a secondary listing on the Australian Securities Exchange (ASX) in October 2026 to access Australia's A$4.4 trillion pension market and deepen its pool of mining-focused investors. CEO Gary Nagle stated the move supports the company's copper growth strategy and enhances its ability to pursue acquisitions, especially after the expiration of a six-month standstill following failed merger talks with Rio Tinto. The listing adds to pressure on London as a mining finance hub, following BHP's primary listing move to Sydney in 2022. Glencore also reported strong first-half earnings of $10.1 billion, up 86% year-on-year. Some fund managers raised concerns about liquidity and the company's thermal coal exposure and workplace fatalities.
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Glencore plans secondary listing in Australia to tap mining capital and boost copper push
Glencore, the Swiss mining and commodities giant, announced plans for a secondary listing on the Australian Securities Exchange (ASX) in October 2026 to access Australia's A$4.4 trillion pension market and deepen its pool of mining-focused investors. CEO Gary Nagle stated the move supports the company's copper growth strategy and enhances flexibility for potential acquisitions, especially after the expiration of a standstill following unsuccessful merger talks with Rio Tinto. The listing adds pressure on London's position as a global mining finance hub, following BHP's primary listing move to Sydney and activist pressure on Rio Tinto. Glencore also reported strong first-half earnings of $10.1 billion, up 86% year-on-year, and disclosed it has cut ties with Singapore-based iron ore trader Radiant World over alleged fraudulent documents.
Glencore targets secondary listing in Australia as London loses mining shine
Glencore, the Anglo-Swiss mining and trading giant with a £64.4bn market cap, announced it will pursue a secondary listing on the Australian Securities Exchange (ASX) in October 2026. CEO Gary Nagle stated the move aims to broaden the investor base and enhance trading liquidity, citing Australia's large pool of long-term investment capital and sophisticated resources-sector investors. The decision follows Glencore's long-standing complaint that its shares are undervalued and liquidity is too low in London. Shares rose 3.5% on the news. The move is the latest blow to London's stock market, following BHP's switch to a primary listing in Australia in 2022 and activist pressure on Rio Tinto. Glencore operates multiple mines in Australia and has significant coal exposure there. Anglo American, meanwhile, has kept its primary listing in the UK.