Glencore plans secondary listing on ASX in October 2026 to tap 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 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.