Glencore
Glencore plc is a Swiss multinational commodity trading and mining company with headquarters in Baar, Switzerland. Glencore's oil and gas head office is in London and its registered office is in Saint Helier, Jersey. The current company was created through a merger of Glencore with Xstrata on 2 May 2013. As of 2015, it ranked tenth in the Fortune Global 500 list of the world's largest companies. In the 2020 Forbes Global 2000, Glencore International was ranked as the 484th-largest public company in the world. As of July 2022, it was the world's largest commodity trader. In 2023, the company was ranked 59th in the Forbes Global 2000.
| Company type | Public limited company |
|---|---|
Traded as | LSE: GLEN JSE: GLN FTSE 100 Component |
| Industry | Commodities Metals and Mining |
| Founded | 1974 (As Marc Rich + Co AG) |
| Founder | Marc Rich |
| Headquarters | |
Area served | Worldwide |
Key people |
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| Products | Metals and minerals, energy products, agricultural products |
| Revenue | US$217.829 billion (2023) |
| US$7.317 billion (2023) | |
Net income | US$3.210 billion (2023) |
| Total assets | US$123.869 billion (2023) |
| Total equity | US$38.237 billion (2023) |
| Owner |
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Number of employees | 140,000 (2024) |
| Website | www |
As Glencore International, the company was already one of the world's largest integrated producers and marketers of commodities. It was the largest company in Switzerland as well as the world's largest commodities trading company, with a 2010 global market share of 60% in internationally tradable zinc, 50% in internationally tradable copper, 9% in the internationally tradable grain market and 3% in the internationally tradable oil market.
Glencore has a number of production facilities all around the world and supplied metals, minerals, crude oil, oil products, coal, natural gas and agricultural products to international customers in the automotive, power generation, steel production and food processing industries. The company was formed in 1994 by a management buyout of Marc Rich + Co AG (itself founded in 1974). It was listed on the London Stock Exchange in May 2011 and was a constituent of the FTSE 100 Index. It had a secondary listing on the Hong Kong Stock Exchange, but had withdrawn from January 2018. Glencore's shares started trading on the Johannesburg Stock Exchange in November 2013. The Qatar Investment Authority was its biggest shareholder as of 2016. In March 2022, Qatar's Sovereign Wealth Fund announced it would sell a stake worth £812 million (US$1.1 billion) in Glencore Plc.