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Glencore plc
GLEN · AIMX · Other Industrial Metals & Mining · Switzerland
Glencore plc is an Anglo-Swiss multinational commodity trading and mining company headquartered in Baar, Switzerland. One of the world's largest diversified natural resource companies, it produces, sources, markets, and distributes more than 60 commodities essential to everyday life and the transition to a low-carbon economy, including metals like copper, nickel, cobalt, zinc, coal, crude oil, oil products, natural gas, and agricultural goods. Founded in 1974 as Marc Rich & Co., it evolved from a trading firm into a vertically integrated giant through key acquisitions, such as merging with Xstrata in 2013, and operates across over 30 countries with approximately 150,000 employees and contractors. Glencore plc serves industrial consumers in sectors like automotive, steel, power generation, battery manufacturing, and oil, while providing financing, logistics, and other services. Its industrial and marketing segments drive significant market presence, with a focus on responsibly sourcing materials for global decarbonization efforts and net zero ambitions by 2050. In 2024, it reported $14.4 billion in adjusted EBITDA, underscoring its scale in the commodities market.
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Other Industrial Metals & Mining
Basic Materials sector · Switzerland
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Supply Chain
Lithium Supply Chain
The lithium supply chain is shaped by three structural constraints that most commodity systems do not face simultaneously: extraction methods diverge so fundamentally that brine evaporation and hard-rock mining produce different timelines, geographies, and cost structures from the same element; chemical refining is concentrated in China regardless of where lithium is mined; and demand grows on EV product cycles while new mine development takes five to seven years, creating a timing mismatch the system cannot resolve through price alone.
Rare Earth Elements Supply Chain
The rare earth supply chain is governed by three structural constraints that most industries never encounter: rare earth elements occur together in ore and cannot be mined individually, separation requires toxic acid-based processes that produce radioactive waste, and China controls roughly sixty percent of mining and ninety percent of processing capacity worldwide.
Copper Supply Chain
The copper supply chain is shaped by three structural constraints that compound over time: ore grades are declining, forcing more energy and processing per ton of output; smelting and refining capacity is concentrated in China, which processes roughly forty percent of global copper; and new mines take ten to fifteen years from discovery to production, meaning supply cannot respond to demand on any timeline shorter than a decade.