Introducing Glencore International AG Mining Company
Mining News Pro - Glencore International AG (Glencore) is involved in the production, marketing and distribution of energy, agricultural and metal commodities. With its head office based in Baar, Switzerland, Glencore and its subsidiaries have operations in 30 countries and over 56,000 employees.

Founded in 1974 as Marc Rich + Co AG, what is now Glencore originated as a metal, minerals, and crude oil marketing company. During the 1980s, it expanded operations to include agricultural and energy products. In 1994 the company was renamed Glencore International after a management buyout. The company went public in 2011 and in 2013 merged with Xstrata to form the world`s largest commodities trading company.

Financial Summary
    Revenue (2017): US $205.4 billion
    Total Operating Expenses: US $ 232 billion
    Net Assets: US$ 53.1 billion

Glencore is involved in the automotive, oil, power, steel and food processing industries. The company and its subsidiaries are directly involved in the production of many commodities, but also sources and markets materials from third party companies. Glencore`s operations can be divided into three commodity segments:

Metals and Minerals

Glencore`s metals and minerals operations are involved in the production and trading of alumina, aluminum, zinc, copper, lead, ferroalloys, nickel, cobalt, and iron ore. Production can involve one or both of mining ores and refining of metals. The metals and minerals division of Glencore is operated from Baar and Stamford. Key assets include:

•    Kazzinc, a zinc/lead/copper/gold production facility in Kazakhstan (50.7% ownership).
•    Mutanda Mining (40% ownership) and Katanga Mining Limited (75.15% ownership), both copper metal mining companies.
•    Mopani, a copper and cobalt mine in Zambia (73.1% ownership).
•    AR Zinc, which owns and operates the Aguilar mine, Palpala lead smelter and the AR Zinc smelter in Argentina (100% ownership).
•    Cobar Mine, a copper mine in Australia (100% ownership).
•    Los Quenuales, a zinc and lead concentrate company (97% ownership).

    Sherwin Alumina, an aluminum refinery in Texas (100% ownership).
    United Company Rusal Limited of Russia, one of the largest aluminum producers in the world (8.75% ownership).
•    The Murrin Murrin nickel-cobalt project in Australia (82% ownership, directly and indirectly).
•    Century Aluminum Co., which produces aluminum in the USA and Iceland (44.4% ownership).
•    A 34.4% interest in Xstrata, a major global copper, zinc, nickel and vanadium producer.
•    Recylex, a lead, zinc, and propylene recycling business, with production sites in France, Germany, and Belgium (32.2% ownership).

Energy Operations
Glencore`s energy segment encompasses the production of oil, gas, coal, and coke, as well as value-added materials, including liquefied petroleum gas, jet fuel, and naphtha. The energy division of Glencore is operated primarily from London, Baar, Stamford, and Singapore.

Agricultural Operations
Glencore`s agricultural operations are involved in the trading and distribution of wheat, corn, barley, rice, oilseeds, meals, edible oils, biodiesel, and sugar. These are purchased from a variety of sources ranging from large-scale refineries to individual farmers. Glencore is also heavily involved in the storing, processing and handling of these commodities. Agricultural operations are managed by the offices in London and Rotterdam.

•    Marc Rich, the company’s founder, was America’s most wanted white-collar criminal until Bill Clinton controversially pardoned him on his last day as president.
According to Forbes, Rich flouted tax laws. In 1983, Rich was indicted on 65 criminal charges, including tax fraud. He was said to have evaded at least $50 million in federal taxes, leading former New York Mayor Rudy Giuliani to remark that it was "the biggest tax evasion case in US history." His company eventually handed over about $200 million in civil penalties but Rich and his business partner avoided prosecution - and up to 300 years in prison - by fleeing to Switzerland.

•    Putting money over politics (and ethics), the company has been linked to a string of controversies. From doing business with an apartheid-era South Africa despite a UN trade ban to colluding with Saddam Hussein in Iraq, Glencore hasn’t met a shady deal it doesn’t like.

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