Glencore posts strong H1 2026 earnings and targets Australian secondary listing

Glencore H1 2026 earnings Australian secondary listing energy trading profit Iran war

Glencore reported a sharp rise in first‑half 2026 results, with adjusted EBITDA of about $10.1 billion, up 86% year‑on‑year, and net income attributable to shareholders of $4.4 billion, reversing a $655 million loss in the same period a year earlier. The earnings boost came from higher commodity prices, especially copper, coal and oil, and a surge in energy‑trading profit of $2.66 billion – 66 times the amount earned a year earlier – driven by market turmoil from the Iran war.

The company also announced plans for a secondary listing on the Australian Securities Exchange, targeting admission in October 2026. Glencore aims to join the ASX 200 index within 12 months, which would require roughly A$1.5 billion of market capitalisation, and eventually the ASX 100 with about A$5.5 billion. The move is intended to broaden its investor base, improve liquidity and tap the large pool of Australian pension‑fund capital. CEO Gary Nagle highlighted the firm’s copper growth strategy, targeting around one million tonnes of annual production by 2028 and 1.6 million tonnes by 2035. The company also disclosed four work‑related fatalities in 2026.

Entities: Australian Securities Exchange · Australian Securities Exchange · AustralianSuper · Gary Nagle · Glencore plc · Iran

Claims

What the coverage asserts, and how well corroborated each claim is across sources.

[● 2 SOURCES] The increase in Glencore's energy‑trading profit was driven by market turmoil caused by the Iran war. (c621a901-2a1d-4517-9789-aae133e78f36)
[● 2 SOURCES] Glencore earned $2.66 billion from energy trading in the first half of 2026, 66 times more than the $40 million earned a year earlier. (c621a901-2a1d-4517-9789-aae133e78f36)
[○ 1 SOURCE] Glencore targets annualised copper production of about one million tonnes by the end of 2028 and 1.6 million tonnes by 2035. (cdc49e03-b300-48d6-9d7d-e2f80adb2758)
[○ 1 SOURCE] Glencore's net income attributable to shareholders for the first half of 2026 was $4.4 billion, reversing a $655 million loss in the same period a year earlier. (2e0c60fe-ef1c-4c81-af35-624354841398)
[○ 1 SOURCE] Glencore plans a secondary listing on the Australian Securities Exchange, targeting admission in October 2026. (2e0c60fe-ef1c-4c81-af35-624354841398)
[○ 1 SOURCE] Glencore acknowledged four work‑related fatalities in 2026. (8b2f259d-f443-4f05-9445-0f56249d9011)
[○ 1 SOURCE] Glencore's adjusted EBITDA for the first half of 2026 was about $10.1 billion, up 86% year‑on‑year. (2e0c60fe-ef1c-4c81-af35-624354841398)
[○ 1 SOURCE] Glencore aims to be included in the ASX 200 index within 12 months, requiring about A$1.5 billion market capitalisation. (8b2f259d-f443-4f05-9445-0f56249d9011)