{"id":112885,"date":"2026-08-07T17:54:30","date_gmt":"2026-08-07T17:54:30","guid":{"rendered":"https:\/\/www.europesays.com\/ch\/112885\/"},"modified":"2026-08-07T17:54:30","modified_gmt":"2026-08-07T17:54:30","slug":"mining-giant-glencore-plots-secondary-stock-market-listing-in-australia","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/ch\/112885\/","title":{"rendered":"Mining giant Glencore plots secondary stock market listing in Australia"},"content":{"rendered":"

By ANGHARAD CARRICK, BUSINESS NEWS EDITOR<\/a> <\/a> <\/p>\n

Updated: 08:21 EDT, 5 August 2026 <\/p>\n

Glencore has confirmed it is targeting a secondary listing in Australia, in the latest sign that London is losing its appeal to big-name miners.<\/p>\n

The FTSE 100<\/a> miner, which has a market cap of around \u00a364billion, has long argued that its shares are undervalued and had previously reviewed switching its listing venue.<\/p>\n

Chief executive Gary Nagle today said Glencore is targeting admission to the Australian Securities Exchange (ASX) in October, \u2018following a detailed review of opportunities to broaden our investor base and enhance trading liquidity.\u2019<\/p>\n

He said it would help \u2018broaden our shareholder base, improve trading liquidity and enhance corporate financial flexibility.\u2019<\/p>\n

Glencore shares rose 3.36 per cent to 569.1p in early trading.<\/p>\n

The move comes after Glencore held talks with rival Rio Tinto, which is dual-listed in London and Sydney, that failed to reach a deal.<\/p>\n

\"Glencore <\/p>\n

Glencore is planning a secondary listing in Australia joining other large-cap miners\u00a0<\/p>\n

BHP moved its primary listing to Australia in 2022 and retains a secondary listing in the City.<\/p>\n

Australia has grown to become a hotspot for large-cap miners, with its investor base considered supportive of the sector. Glencore also operates 20 active mines and processing facilities across the country.<\/p>\n

Nagle said: \u2018Australia is home to one of the world’s largest and fastest-growing pools of long-term investment capital, with A$4.4 trillion in pension assets expected to grow to approximately A$12.4 trillion by 2045.\u00a0<\/p>\n

The market also offers access to a highly sophisticated investor base with deep expertise in the global resources sector.\u2019<\/p>\n

Glencore has been listed in London since 2011, when the company was valued at about \u00a337billion making it the market\u2019s biggest float at the time.<\/p>\n

Nagle launched a listing review in February 2025, saying the company needed to \u2018get the right and optimal valuation for our stock\u2019. In August of that year, Glencore decided against switching its primary from London to the US, after assessing the \u2018material friction\u2019 costs involved.<\/p>\n

The miner, which already has a secondary listing in Johannesburg, delisted from Hong Kong in 2018.<\/p>\n

Nagle told reporters that the move was \u2018nothing to do with the London market, it is about giving options,\u2019 but it will undoubtedly raise concerns over the future of the London Stock Exchange as a destination for large-cap miners.<\/p>\n

\u2018The mining sector was one area where the UK market enjoyed healthy representation, but Glencore\u2019s announcement it will seek a secondary listing in Australia will raise fears this position could be further chipped away,\u2019 said Russ Mould, AJ Bell\u2019s investment director.<\/p>\n

The announcement came as Glencore reported bumper results driven by volatile energy prices due to the Middle East conflict.<\/p>\n

Revenue for the first half of the year rose 49 per cent to $174.4billion, lifting adjusted earnings up 86 per cent to $10.12billion.<\/p>\n

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\n Mining giant Glencore plots secondary stock market listing in Australia<\/p>\n