Glencore CEO Gary Nagle has firmly rejected speculation that the company’s pursuit of a secondary listing on the Australian Securities Exchange (ASX) could lead to a delisting from the Johannesburg Stock Exchange (JSE).
The Swiss-based commodities giant’s chief executive stated that an exit from South Africa’s primary market is “out of the question,” aiming to reassure local investors and stakeholders amid the expansion into the Australian market.
Nagle emphasized the strategic importance of South Africa to Glencore’s operations, crediting the country’s mining expertise for the group’s success in the local market.
Nagle emphasized the strategic importance of South Africa to Glencore’s operations, crediting the country’s mining expertise for the group’s success in the local market.
The comments serve to counter narratives that the ASX listing, targeted for an October debut, represents a pivot away from the company’s African roots.
Instead, the move is framed as an addition to Glencore’s global capital base, leveraging Australia’s status as a key mining jurisdiction.
The Australian listing follows Glencore’s existing primary listing on the London Stock Exchange.