Ivan Glasenberg Makes First Glencore Share Purchase In A Decade

Ivan Glasenberg increases his stake in Glencore for the first time in nearly a decade, signaling confidence amid market volatility.

Glasenberg now owns 10.2 of Glencore, worth approximately 3.7 billion, making him the largest individual shareholder.

The purchase comes as Glencore's shares hit a four-year low, struggling amid macroeconomic pressures and ESG concerns.

South African billionaire Ivan Glasenberg, the former CEO of Glencore Plc, has increased his stake in the commodity trading and mining giant for the first time in nearly a decade. This underscores his confidence in Glencore as the global mining sector faces market volatility.

Glasenberg, who steered Glencore from 2002 to 2021, acquired 7.4 million additional shares, bringing his total ownership to 1.219 billion shares, or 10.2 percent of the companys voting rights, according to a recent regulatory filing. His stake is worth around 3.7 billion, making him Glencores largest individual shareholder.

The purchase triggered a regulatory disclosure, as Glasenbergs stake surpassed the 10 percent threshold, which provides him with greater voting power under UK financial regulations.His holdings had remained unchanged since 2015, when he last bought shares during a sharp downturn in the commodities market.

That earlier decision turned out to be a savvy oneGlasenberg invested 210 million to maintain his stake during a 2.5 billion capital raise, and the stock later saw a notable rebound. While he's not required to disclose every trade, this latest filing marks a clear shift in sentiment from one of the most influential figures in the industry.

However, Glasenbergs recent move comes at a time when Glencores shares are trading at their lowest level in four years, underperforming its peers amid a broader sector selloff. The company, which has significant exposure to coal, copper, cobalt, and agricultural commodities, has faced challenges as investors move away from cyclical assets.