Glencore plans Australian secondary listing

Glencore said Wednesday it plans a secondary listing on the Australian Securities Exchange to broaden its investor base, alongside its main London listing and an existing secondary listing in Johannesburg.

The Swiss mining and commodity trading company said it hopes to list on the ASX in October. Chief executive Gary Nagle told a virtual press conference that Australia is a key mining region and that there appeared to be growing demand there for Glencore stock.

Nagle said the planned listing was intended to give Glencore greater flexibility for acquisitions if an opportunity arises, while the main goal was access to Australia’s “very deep pools of capital”.

The announcement came alongside Glencore’s half-year results. The company’s net income reached $4.4 billion in the first half of 2026, compared with a $655 million loss in the first six months of last year.

Glencore and Rio Tinto said in January that they had held talks on a potential combination of all or part of their operations, but the negotiations fell through.