Glencore has opted to retain its London Stock Exchange listing, rejecting a move to the US after a formal review. The decision follows a net loss of $655m in the first half of 2025, nearly tripling the loss from the previous year, attributed to lower coal prices, production issues, and tariff uncertainties. The company initiated a $1bn cost-cutting program to bolster profits. Although executives see potential benefits in US markets, Glencore concluded that a move would not currently add shareholder value, though it will continue to monitor market conditions.
Glencore decided to retain its stock market listing in London, concluding that moving to the US would not add value for its shareholders after a formal review.
The company reported a net loss of $655m in the first half of 2025, influenced by lower coal prices, copper production issues, and uncertainties around tariffs.
Glencore’s chief executive stated that the company aimed to achieve the optimal valuation for its stock, ultimately affirming satisfaction with its London listing.
Despite recognizing the unmatched scale of US capital markets, Glencore found that moving to a US domestic issuer or launching an ADR program wouldn’t benefit shareholders.
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