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Glencore announces the entry into multi-year alumina supply and aluminium offtake agreements with Press Metal

posted: 08/09/2022

Baar, Switzerland
8 September 2022

Glencore is pleased to announce that it has entered into a 10-year alumina supply and aluminium offtake agreements with Press Metal Bintulu Sdn. Bhd. (“Press Metal Bintulu”), one of the leading global producers of green aluminium. Press Metal Bintulu is an 80% subsidiary of Press Metal Aluminium Holdings Berhad (“Press Metal”), listed on the Main Market of the Malaysian stock exchange, Bursa Malaysia Securities Berhad (“Bursa Malaysia”).

Robin Scheiner, Head of Alumina and Aluminium, Glencore, commented:

“We have a long-standing relationship with Press Metal and the transactions we have announced today are an important step in our strategy to increase Glencore’s supply of green aluminium to the global market and support Press Metal’s expansion ambitions as a key primary producer of low-carbon aluminium.

Glencore is committed to supporting the transition to a low carbon economy. Demand for this metal segment has grown substantially over the last few years and is expected to increase in the future as customers look to reduce their carbon footprint.”

Tan Sri Dato’ Paul Koon, CEO of Press Metal, commented:

“Press Metal and Glencore have established a deep mutual understanding through amicable business dealings over many years. This agreement stamps the trust between both organizations as we share identical philosophies in supporting a low carbon economy and climate commitment towards net zero by 2050. We are delighted that Glencore recognises our efforts in sustainable and responsible production of low carbon aluminium. Press Metal endeavours to continuously produce low-carbon aluminium as our prime business strategy.”  

For further information please contact:

Investors

Martin Fewings    
t: +41 41 709 28 80    
m: +41 79 737 56 42    
martin.fewings@glencore.com

Media

Charles Watenphul    
t: +41 41 709 24 62    
m: +41 79 904 33 20    
charles.watenphul@glencore.com

Glencore LEI: 2138002658CPO9NBH955

Notes for Editors

Glencore is one of the world’s largest global diversified natural resource companies and a major producer and marketer of more than 60 responsibly-sourced commodities that advance everyday life. Through a network of assets, customers and suppliers that spans the globe, we produce, process, recycle, source, market and distribute the commodities that enable decarbonisation while meeting the energy needs of today. 

Glencore companies employ around 135,000 people, including contractors. With a strong footprint in over 35 countries in both established and emerging regions for natural resources, our marketing and industrial activities are supported by a global network of more than 40 offices. 

Glencore's customers are industrial consumers, such as those in the automotive, steel, power generation, battery manufacturing and oil sectors. We also provide financing, logistics and other services to producers and consumers of commodities.

Glencore is proud to be a member of the Voluntary Principles on Security and Human Rights and the International Council on Mining and Metals. We are an active participant in the Extractive Industries Transparency Initiative.

Glencore recognises our responsibility to contribute to the global effort to achieve the goals of the Paris Agreement. Our ambition is to be a net zero total emissions company by 2050. In August 2021, we increased our medium-term emission reduction target to a 50% reduction by 2035 on 2019 levels and introduced a new short-term target of a 15% reduction by 2026 on 2019 levels.

For more information on Glencore’s strategy on climate change and drive towards net zero by 2050 please see: https://www.glencore.com/sustainability/esg-a-z/climate-change

 

Further information on Press Metal:

  • Headquartered in Kuala Lumpur, Malaysia and listed on the Main Market of Bursa Malaysia.
  • Founded in 1986 by the Koon brothers who collectively remain the largest shareholders in Press Metal today.
  • Largest integrated aluminium producer in Southeast Asia.
  • Total aluminium smelting capacity of 1.08m MT/year and aluminium extrusion capacity of 210k MT/year with plans in process to further expand.
  • Active along the entire aluminium production value chain.
  • Low carbon content with less than 4.0 tonnes CO2-eq per tonne of aluminium produced.
  • Smelting operations located in Sarawak, Malaysia are predominantly powered by hydro-based electricity.

 

Disclaimer
The companies in which Glencore plc directly and indirectly has an interest are separate and distinct legal entities. In this document, “Glencore”, “Glencore group” and “Group” are used for convenience only where references are made to Glencore plc and its subsidiaries in general. These collective expressions are used for ease of reference only and do not imply any other relationship between the companies. Likewise, the words “we”, “us” and “our” are also used to refer collectively to members of the Group or to those who work for them. These expressions are also used where no useful purpose is served by identifying the particular company or companies.