Glencore’s Kazzinc to open metal sales to competing traders - Bloomberg

Investing.com -- Kazzinc Ltd., a Kazakh mining company majority-owned by Glencore Plc, plans to allow rival traders to bid for its metal production, Bloomberg report, marking a shift in its sales strategy amid increasing competition in the metals trading sector.

The mining company has issued a tender for its entire 2026 copper production, according to Bloomberg, citing sources familiar with the matter who requested anonymity. Kazzinc is also preparing additional tenders for zinc and other metals as part of a new marketing approach set to begin next year.

While Glencore maintains the right to match the highest bid from competitors, this move highlights the growing competition for valuable supply agreements in the metals trading industry, which has seen significant capital inflows.

Kazzinc, which counts Kazakhstan’s sovereign wealth fund as a minority stakeholder, ranks among the world’s largest zinc and lead miners and produces substantial amounts of copper, gold, and silver.

For years, Glencore has exclusively marketed all output from Kazzinc as both its primary shareholder and operator, helping establish Glencore’s position as the leading global trader of zinc and lead.

This development comes as governments increasingly seek greater control and revenue from their natural resources.

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