By: OrePulse

Glencore is nearing two multibillion-dollar asset sales — a stake in its Democratic Republic of Congo copper and cobalt operations and its holding in Kazakhstan's Kazzinc — that the company expects could fund large shareholder returns in 2027, Chief Executive Gary Nagle told investors at a private conference hosted by Goldman Sachs.

Nagle said 2027 should be an exceptional year for cash returns to shareholders as Glencore simplifies its portfolio and its trading division benefits from volatile commodity markets. He said trading profit for 2026 is expected to exceed $5 billion, which would be the company's second-highest annual total after 2022.

On the Congo assets, Nagle said Glencore plans to sell a 40 percent stake in its copper and cobalt interests there to Orion CMC, a vehicle that Orion Resource Partners established together with the United States government. He said the deal could be concluded by early next year. The assets being sold are expected to be valued at about $9 billion including debt, though Nagle said no final agreement had been reached.

Talks also continue over the sale of Glencore's controlling stake in Kazzinc, a Kazakhstan-based producer of zinc, lead and gold, to a Kazakh investor, with a decision expected within two months, according to Nagle. Analysts have valued the Kazzinc holding at up to $5 billion.

One investor who attended the conference said a smaller Glencore could make it easier for the company to pursue a large-scale merger in the future. Glencore held merger talks with Rio Tinto earlier this year that ended without an agreement.

Nagle also said Glencore is examining ways to fund a copper mine expansion at its Collahuasi operation in Chile, which it jointly owns with Anglo American and Mitsui, including a possible deal involving desalination infrastructure.

Separately, Glencore intends to exit its 16 percent stake in Bunge Global, the agricultural trading company, within five years, Nagle said. He put the stake's value at nearly $20 billion and said sovereign wealth funds and industrial groups have expressed interest in acquiring it.

Glencore said in September that a provision tied to its dispute with Radiant World, an iron ore trading group that is suing Glencore in a Singapore court, would remain under $500 million.