Glencore
 |
|
| Public limited company | |
| Traded as | : , : 0805, JSE: GLN (from 13 November 2013) |
| Industry |
Commodities Metals and Mining |
| Founded | 1974 (As Marc Rich + Co AG) |
| Founder | Marc Rich |
| Headquarters |
Baar, Switzerland (Headquarters) London, United Kingdom (Head office – Oil & Gas) Rotterdam, Netherlands (Head office – Agricultural products) Saint Helier, Jersey (Registered office) |
|
Area served
|
Worldwide |
|
Key people
|
Tony Hayward (Chairman) Ivan Glasenberg (CEO) |
| Products | Metals and minerals, energy products, agricultural products |
| Revenue | US$ 170.497 billion (2015) |
| US$ (8.016) billion (2015) | |
| US$ (8.114) billion (2015) | |
| Total assets | $128.49 billion (2016) |
|
Number of employees
|
110,378 (2016) |
| Website | www |
Glencore plc (an acronym for Global Energy Commodity Resources) is an Anglo–Swiss multinational commodity trading and mining company with headquarters in Baar, Switzerland, and a registered office in Saint Helier, Jersey. The current company was created through a merger of Glencore with Xstrata on 2 May 2013. As of 2015[update], it ranked tenth in the Fortune Global 500 list of the world's largest companies. It is the world's third-largest family business.
As Glencore International, the company was already one of the world's leading integrated producers and marketers of commodities. It was the largest company in Switzerland and 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 percent in the internationally tradable grain market and 3 percent in the internationally tradable oil market.
Glencore had 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 in May 2011 and was a constituent of the FTSE 100 Index. It has a secondary listing on the . Glencore's shares started trading on the in November 2013. The Qatar Investment Authority is its biggest shareholder.
An Australian Public Radio report said, "Glencore's history reads like a spy novel". The company was founded as Marc Rich & Co. AG in 1974 by billionaire commodity trader Marc Rich. Rich was charged in the US with tax evasion and illegal business dealings with Iran, but pardoned by President Bill Clinton in 2001. He was never brought before US courts, so there was never a verdict on these charges.
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Wikipedia