Glencore International AG CEO visits Tajikistan Aivan Glasenberg

20/04/2016 12:08
Asia-Plus
Views: 6157

DUSHANBE, April 20, 2016, Asia-Plus – A delegation of Glencore International AG, led by Mr. Ivan Glasenberg, the Chief Executive Officer (CEO) at Glencore International AG, has visited Tajikistan.

According to the Tajik president’s official website, the delegation yesterday visited the Tajik Aluminum Company (TALCO), with which Glencore International AG has cooperated for several years. Glencore International AG is reportedly helping Tajik aluminum smelter shift to domestic raw materials for production of aluminum and modernize its production.

Today, Glencore International AG CEO was received by Tajik President Emomali Rahmon.

In the course of the talks, the two sides reportedly discussed issues related to cooperation between Tajikistan and Glencore International AG.

They, in particular, discussed increase in production capacity of Tajik industrial enterprises and attraction of investments into Tajikistan’s economy.

Rahmon and Glasenberg also discussed prospects of cooperation between Glencore International AG and Tajikistan’s large industrial enterprises.

Glencore International AG has cooperated with TALCO in providing Tajik aluminum smelter with alumina and producing primary aluminum since 2007, the Tajik president’s official website said.

Today, Glencore plc is one of the world’s largest global diversified natural resource companies and a major producer and trader of more than 90 commodities.

Founded in 1974 as Marc Rich + Co AG, the company initially focused on the physical marketing of ferrous and non-ferrous metals and minerals and crude oil.  Shortly afterwards, it expanded into oil products.  In 1981, the company acquired an established Dutch grain trading company, which was the basis for our agricultural products business; later that year we added coal to our energy products segment.

From 1987, it began to diversify from purely marketing and trading, through key acquisitions in mining, smelting, refining and processing. The company made its first equity investment in an industrial asset when it acquired 27% of the Mt. Holly aluminum smelter in the US. This was followed by its first controlling interest in an industrial asset in 1988: a 66.7% interest in a zinc/lead mine in Peru.

In 1990, the company acquired a stake in Xstrata (then Sudelektra AG).  It was renamed Glencore International in 1994 following a management buyout.

Glencore International AG listed on the London Stock Exchange and Hong Kong Stock Exchange 2011, becoming Glencore International plc. Glencore was admitted to trading on the Johannesburg Stock Exchange in November 2013.

Glencore and Xstrata merged to become Glencore Xstrata plc in 2013. The company was renamed Glencore plc (an acronym for Global Energy Commodity Resources) at the AGM in May 2014.

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