KEY POINTS
- Glencore plans to list in Sydney on October 14.
- The company hopes to attract Australian pension funds and enter the ASX 100.
- CEO Gary Nagle says concerns about coal investments have eased, despite environmental restrictions.
Glencore has dismissed concerns that its coal business could discourage Australian pension funds from investing in the mining giant as it prepares to list in Sydney.
The company expects the listing to attract more institutional investors, increase demand for its shares and help it secure a place in Australia’s benchmark ASX 100 index.
Glencore is preparing to list in Sydney on Wednesday, October 14, 2026, targeting Australia’s A$4.8 trillion ($3.3 trillion) pension industry as a major source of investment.
The company plans to make its shares more accessible to large Australian investors by allowing them to purchase depositary receipts representing its stock listed in London and South Africa.
Chief Executive Officer Gary Nagle said pension funds could increase their investments in Glencore following the Sydney listing. He added that some funds had previously indicated they would consider holding more shares if the company established a local listing.
Glencore hopes the additional demand will support its share price and help it enter the ASX 100 index, which tracks some of Australia’s largest publicly listed companies.
Coal remains a concern for investors
Despite the anticipated benefits, Glencore’s coal operations could pose a challenge in attracting investors with strict environmental investment policies.
Several Australian superannuation funds have introduced restrictions on investments in companies involved in coal production following pressure from their members and customers concerned about climate change.
Coal remains an important part of Glencore’s industrial operations. The company generated about 25% of its industrial revenue from the fuel in 2025, although revenue from coal used in power generation fell by more than half compared with the previous year.
Nagle, however, suggested that investor attitudes towards fossil fuels had changed in recent years.
Speaking to the media on Friday, October 9, he said concerns about fossil fuel investments were no longer as pronounced as they were two or three years ago.
He attributed the shift partly to the global energy crisis associated with conflicts in Ukraine and the Middle East, which has renewed attention on energy security and the role of coal in meeting electricity demand.
