Glencore statement on Astron closing
Johannesburg, South Africa
8 April 2019
Glencore South Africa Oil Investments (Pty) Limited is pleased to announce the closing of its acquisition of 75% of Astron Energy in South Africa and 100% of Astron Botswana, the two businesses previously owned and operated by Chevron.
Glencore is looking forward to working with the Astron management team, led by CEO Jonathan Molapo, to drive growth in the businesses as well as increasing the BEE ownership and localisation of the business in South Africa.
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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 90 commodities. The Group's operations comprise around 150 mining and metallurgical sites, oil production assets and agricultural facilities.
With a strong footprint in both established and emerging regions for natural resources, Glencore's industrial and marketing activities are supported by a global network of more than 90 offices located in over 50 countries.
Glencore's customers are industrial consumers, such as those in the automotive, steel, power generation, oil and food processing sectors. We also provide financing, logistics and other services to producers and consumers of commodities. Glencore's companies employ around 158,000 people, including contractors.
We began marketing activities in South Africa in 1974, and mining in 1988. Glencore has a strong presence in both the coal and ferroalloy sectors and is a major contributor to the local, provincial, and national economies and have almost 27,000 employees and contractors.
We are a leading producer of thermal coal which is intended for the domestic and export market. Thermal (or “steam”) coal is mainly used in power generation. Our coal operations are located near eMalahleni, Middelburg and Belfast in the Mpumalanga province.
Our ferroalloys business, is one of the world's largest integrated ferrochrome producers in the world. Ferrochrome has anti-corrosive properties and around 80% goes into the production of stainless steel. Platinum group metals are an important component of catalytic converters, used for jewellery and many other applications including computing, anti-cancer drugs and paints. Our chrome, platinum and vanadium operations are located across the mineral-rich Bushveld Complex of South Africa's North West, Limpopo and Mpumalanga provinces.
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.
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.