Glencore Is Set To Launch A New Refinery In Cape Town
Glencore Is Set To Launch A New Refinery In Cape Town. Anglo-Swiss multinational commodity trading and mining company Glencore has announced that it will be launching its new refinery in Cape Town, South Africa. The company also disclosed that it aims to open the refinery later on this year.
It’s not just a rebuild to what we had before. We’ve actually improved the refinery. We will be able to produce additional products. We’ve changed the cost base. And we believe that, certainly, we’ll bring on that refinery, it will be profitable.” Glencore CEO Gary Nagle told News24. With this the company will be creating something that will not only have a positive impact on the organization but it will also have a positive impact in the community as people can will have employment opportunities and others will be inspired to see such an industry thriving.
Glencore is one of the world’s largest global diversified natural resource companies and a major producer and marketer of more than 60 responsibly-sourced commodities that advance everyday life. The Group’s operations comprise around 150 mining and metallurgical sites and oil production assets. With a strong footprint in over 35 countries in both established and emerging regions for natural resources, Glencore’s industrial activities are supported by a global network of more than 30 marketing offices. Glencore’s customers are industrial consumers, such as those in the automotive, steel, power generation, battery manufacturing and oil sectors. It also provides financing, logistics and other services to producers and consumers of commodities. Glencore’s companies employ around 135,000 people, including contractors.
The company has its headquarters in Baar, Switzerland, its oil and gas head office in London and its registered office in Saint Helier, Jersey. The current company was created through a merger of Glencore with Xstrata on 2 May 2013 and as of 2015, it ranked tenth in the Fortune Global 500 list of the world’s largest companies. In the 2020 Forbes Global 2000, Glencore International was ranked as the 484th-largest public company in the world.
