Post by Timilehin Adejumobi

Glencore, the Swiss mining and commodity trading company led by Chief Executive Gary Nagle, is considering a listing in Australia if it benefits the business, following the collapse of merger talks with Rio Tinto. Nagle said a secondary listing on the Australian Securities Exchange could broaden the company’s investor base and offer market participants another major mining stock alongside Rio Tinto and BHP. Before moving forward, Glencore would consult shareholders and seek advice from advisers, Nagle said. The company declined further comment on the report. The listing discussion comes weeks after Rio Tinto ended takeover talks with Glencore in February, closing months of negotiations over a potential tie-up that would have created the world’s largest mining group. According to people familiar with the talks, Glencore believed the proposed terms undervalued its copper assets and development projects. Rio, meanwhile, said the deal would not provide enough value for its shareholders. 📌Tap the comment below to read the full story.