Published by Global Banking & Finance Review®
Posted on July 8, 2025
1 min readLast updated: January 23, 2026
Glencore sells its copper refinery in the Philippines to the Villar family, led by billionaire Manny Villar Jr., amid a pricing crisis.
(Reuters) -Britain's Glencore has agreed to sell its struggling copper refinery in the Philippines to the Villar family, headed by real estate billionaire Manny Villar Jr., Bloomberg News reported on Tuesday, citing people familiar with the matter.
The commodities trading firm had already put its Philippine Associated Smelting and Refining Corp, or Pasar, on care and maintenance earlier this year amid a severe pricing crisis.
The Bloomberg report did not disclose a valuation for the deal.
Glencore declined to comment and the Villar family did not respond to a request for comment.
(Reporting by Yamini Kalia and Prerna Bedi in Bengaluru; Editing by Sonia Cheema)
The Villar family, led by real estate billionaire Manny Villar Jr., is buying Glencore's copper refinery.
Glencore had placed the Philippine Associated Smelting and Refining Corp, or Pasar, on care and maintenance earlier this year due to a severe pricing crisis.
No, the Bloomberg report did not disclose a valuation for the deal.
Glencore declined to comment on the sale, and the Villar family did not respond to a request for comment.
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