Without Ivan, can Glencore still become the world’s largest miner?
Can Glencore fulfil the prediction of retiring CEO Ivan Glasenberg and become the largest miner in the world? It has a few hurdles to overcome to achieve this, but also some factors in its favour
It takes time to build an empire. Rome, we know, wasn’t built in a day — try a millennium. And in mining, it often takes more than a century to build a powerhouse. BHP Billiton, for example, was incorporated as Broken Hill Proprietary in 1885 to mine silver and lead in Australia, before growing to become the world’s largest mining company.
And it was in 1917 that Ernest Oppenheimer established Anglo American, the SA gold mining company that today is a diversified multinational worth R740bn...