Post by Billionaires.Africa Inc.

Glencore Plc, the Swiss mining and commodity trading giant led by South African executive Gary Nagle, has taken another step in its energy transition strategy with a long-term offtake agreement tied to Oman’s emerging green steel sector. Under the deal, Glencore will buy between 500,000 and 1.25 million tons a year of hot briquetted iron (HBI) from Meranti Green Steel’s planned plant starting in 2030. The cleaner steelmaking input is expected to support European steelmakers under pressure to cut emissions, while reinforcing the Middle East’s growing role in lower-carbon industrial supply chains. The agreement reflects Glencore’s broader push under Nagle to balance its vast commodity trading operations with increased exposure to transition-linked materials, from copper and nickel to cleaner industrial inputs. It also comes as the company explores strategic moves that could further reshape the global mining landscape.