Centaurus Metals Signs Offtake Deals for Jaguar as Glencore and CNGR Commit US$40m

Glencore began trading on the Australian Securities Exchange (ASX) on 14 October 2026, according to the company. CEO Gary Nagle noted Glencore's long-term investment in Australia and the country's understanding of global resources and commodity markets. This listing provides Australian investors a new way to participate in Glencore's future.

A US-backed consortium, Orion CMC, is nearing completion of a deal to buy 40% of Glencore's copper-cobalt mines in Congo. The group, backed by US and Middle Eastern entities, aims to reduce reliance on China. Glencore's mines are key to global copper and cobalt supply, with Chinese firms currently dominating output. The Trump administration is reportedly divided on copper tariffs.

Hudbay Minerals and Mitsubishi approved a $2.07 billion investment for the Copper World project in Arizona, targeting first production in H2 2029. The project, with a 15-year mine life, aims to produce 102,000 mt of copper annually in its first decade, with an average cash cost of $1.65/lb. Hudbay holds a 70% stake, while Mitsubishi owns 30%.

Glencore (LON: GLEN) secured land access for its Coroccohuayco copper expansion in Peru, extending Antapaccay's life to over 40 years. The project, targeting 2029 production, still needs final permits. Glencore aims to double copper output, with Peru central to its strategy. The expansion could boost production and local employment. Glencore also acquired the Quechua copper project, adding potential future production.

Cornish Metals (TIN) plans to raise £135M via equity at 60p per share, with Glencore investing £11.2M. The funds will support South Crofty's production by mid-2028. The deal includes a 6-year offtake agreement for 100% of tin concentrates, subject to approvals.

Glencore's $40m funding for Orion Minerals' Prieska mine is now unconditional, enabling development of the Uppers Mine. Orion aims for first copper and zinc production by late 2027. The $250m agreement includes upfront funding linked to future concentrate sales. Tranche A will fund Uppers construction, with drawdown expected by October. Orion has appointed contractors and is progressing development activities. Tranche B, for the Deeps, remains conditional on further funding.