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Monday, October 3, 2022

Glencore signs long-term alumina supply and aluminium offtake agreements with Malaysian Press Metal

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“We have a long-standing relationship with Press Metal and the transactions we have announced today are an important step in our strategy to increase Glencore’s supply of green aluminum to the global market and support Press Metal’s expansion ambitions as a key primary producer of low-carbon aluminum.”

Robin Scheiner,
Head of Alumina and Aluminium,
Glencore.

Glencore, with mirth, declared that it has stepped into a ten-year-long alumina supply and aluminium offtake arrangement with the Malaysian green aluminium producer, Press Metal Bintulu Sdn. Bhd. In accordance with the Paris Agreement of 2016, Glencore wishes to achieve net zero emissions by 2050. Press Metal Bintulu is an 80 per cent subsidiary of Press Metal Aluminium Holdings Berhad, listed on the main market of Bursa Malaysia Securities Berhad.

Founded in 1986 by the Koon brothers, Press Metal has its headquarters in Kaula Lampur and is the largest integrated aluminium producer in the Southeast Asian region. The smelters of the organization, located in Sarawak, Malaysia, are mainly powered by hydro-based electricity. The facilities can produce low carbon content aluminium with 4 tonnes less CO2 equivalent per tonne of the non-ferrous metal produced. The gross aluminium smelting capacity of the units is 1.08 million tonnes per year, and it can produce aluminium extrusions worth 210,000 tonnes per year with plans of expanding the operations further. Press Metal is active along the entire aluminium value chain.

Glencore is among the world’s largest internationally variable natural resource companies and a primary maker-marketer of approximately 60 securely procured commodities that act as blessings to mankind. With a well-connected network of assets, suppliers, and customers that are scattered worldwide, Glencore does process, produce, source, recycle, distribute and market commodities that have decarbonizing effects while working under today’s energy conditions.

Most of Glencore’s customers are industry-based, mainly coming from the steel, battery manufacturing, power generation, automotive and oil sectors. They also arrange for logistic services along with giving financial support to some producers and consumers of the company’s yielded commodity.

The Head of Alumina and Aluminium in Glencore, Robin Scheiner, elaborated: “We have a long-standing relationship with Press Metal and the transactions we have announced today are an important step in our strategy to increase Glencore’s supply of green aluminium to the global market and support Press Metal’s expansion ambitions as a key primary producer of low-carbon aluminium.”

Glencore is committed to supporting the transition to a low-carbon economy. Demand for this metal segment has grown substantially over the last few years and is expected to increase in the future as customers look to reduce their carbon footprint,” he added.

The CEO of Press Metal, Tan Sri Dato’ Paul Koon, narrated: “Press Metal and Glencore have established a deep mutual understanding through amicable business dealings over many years. This agreement stamps the trust between both organizations as we share identical philosophies in supporting a low carbon economy and climate commitment towards net zero by 2050. We are delighted that Glencore recognizes our efforts in sustainable and responsible production of low-carbon aluminium. Press Metal endeavors to continuously produce low-carbon aluminium as our prime business strategy.”

Glencore subsidiaries employ approximately 135,000 heads, also appointing contractors. It has a concrete hold over 35 different countries, which are both modern and growing for the extraction of natural resources. Its marketing and industrial operations are looked after by a global conglomeration of 40 offices.

In the year 2021, the month of August, Glencore raised its medium-term emission reduction target to an extensive 50 per cent by 2035 on 2019 levels. They also marked a short-term target of a 15 per cent reduction rate by 2026 on 2019 levels.

Glencore has been a notable member of the Voluntary Principles on Security and Human Rights and the International Council on Mining and Metals. The company also takes part in the Extractive Industries Transparency Initiative.

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