Published by Global Banking & Finance Review®
Posted on March 9, 2026
2 min readLast updated: April 1, 2026
Add as preferred source on GoogleGlencore is exploring a listing on Australia’s ASX to improve investor understanding and boost its valuation after merger talks with Rio Tinto collapsed, as reported by the AFR. The move follows failed merger negotiations and ongoing pressure to unlock shareholder value.
March 9 (Reuters) - Glencore is open to considering listing in Australia, if it proves beneficial to the company, the Australian Financial Review reported on Monday, following the collapse of merger talks with Rio Tinto.
A secondary ASX listing could attract more investors and "give investors another option other than Rio and BHP," the report quoted CEO Gary Nagle saying.
The company would need to engage with shareholders and seek advice before proceeding with any listing, Nagle told the newspaper.
Glencore declined to provide further comment on the report.
Rio walked away from takeover talks with Glencore in February, ending months of negotiations on a tie‑up that would have created the world’s largest mining group.
Glencore concluded that the proposed terms undervalued its copper business and future growth pipeline, while Rio said the deal would not deliver sufficient value to its shareholders.
Glencore last August decided against shifting its primary listing from London to the U.S., opting to stay in the UK after assessing the "material friction" costs involved.
The miner, which already has a secondary listing in Johannesburg, delisted from Hong Kong in 2018.
(Reporting by Nithyashree R B in Bengaluru; Additional reporting by Rishab Shaju, Simone Lobo, and Raechel Thankam Job; Editing by Shreya Biswas and Mark Potter)
Glencore is considering an ASX listing to improve Australian investor understanding and boost its valuation following the collapse of merger talks with Rio Tinto.
Merger talks between Glencore and Rio Tinto have collapsed, prompting Glencore to explore other strategic options.
The Australian Financial Review (AFR) reported on Glencore's consideration of an ASX listing.
Reuters has not immediately verified the report regarding Glencore's potential ASX listing.
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