Glencore Targets October 2026 ASX Listing as £64.4 Billion Miner Seeks Liquidity Beyond London
Updated
Updated · OilPrice.com · Aug 6
Glencore Targets October 2026 ASX Listing as £64.4 Billion Miner Seeks Liquidity Beyond London
3 articles · Updated · OilPrice.com · Aug 6
Summary
Glencore said it will pursue a secondary listing on the Australian Securities Exchange in October 2026, adding pressure on London as major miners look elsewhere for trading depth.
Gary Nagle said the move is meant to widen the investor base and improve liquidity after long-running complaints that Glencore shares are undervalued in London.
Shares rose 3.5% to 570.3p after the announcement, extending a 39.4% gain this year as the trader-miner benefited from volatility tied to the Middle East conflict.
Australia is already one of Glencore’s key operating bases, and the listing could help it tap the country’s large pension pool and eventually qualify for ASX index inclusion.
The move revives concerns over London’s grip on mining listings after BHP shifted its primary listing to Australia in 2022, though Anglo American is keeping its main UK listing.