[miningmx.com] – GLENCORE is considering a stock market listing in Johannesburg, said Bloomberg News citing a person familiar with the situation.
A listing in Johannesburg is being considered owing to the importance of South African operations once the merger with Xstrata is completed, said Bloomberg News.
Ivan Glasenberg, the South African-born CEO of Glencore, may not yet opt to go ahead with the listing, Bloomberg News added.
A listing on the Johannesburg Stock Exchange by Glencore would be a vote of confidence in a country where Anglo American Platinum Ltd. and Lonmin Plc are among companies whose mines have been plagued by sometimes violent strikes, Bloomberg News said.
Earlier this week, Robert Friedland, president of Ivanplats, said his company was considering a listing in Johannesburg rather than London because it may be more appropriate.