Glencore plans secondary listing on ASX in October 2026 to tap copper growth and pension capital

Published Aug 5, 03:46 PM UTC

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.