Glencore is targeting an October 2026 secondary listing on the Australian Securities Exchange (ASX), which would provide greater access to Australia’s resource-focused investors.
This move has raised concerns about London’s position as a global mining hub. Glencore, one of the largest companies in the FTSE 100 with a market cap of £64.4 billion, aims to broaden its investor base and enhance trading liquidity.
Chief executive Gary Nagle stated that Australia is home to one of the world’s largest and fastest-growing pools of long-term investment capital. “The market also offers access to a highly sophisticated investor base with deep expertise in the global resources sector,” he said.
Shares climbed 3.5% following the announcement, with the stock rising 39.4% since the start of the year.
