GLENCORE PLC - GLN: Glencore closes purchase of stakes in Alunorte and MRN

GLN: Glencore closes purchase of stakes in Alunorte and MRN

GLENCORE PLC
(Incorporated in Jersey under the Companies (Jersey) Law 1991)
(Registration number 107710)
JSE Share Code: GLN
LSE Share Code: GLEN
ISIN: JE00B4T3BW64
LEI: 2138002658CPO9NBH955

Baar, Switzerland
4 December 2023


Glencore closes purchase of stakes in Alunorte and MRN


Further to the announcement on 28 April 2023, Glencore and Norsk Hydro ASA ("Hydro")
have on 1 December 2023 closed the transaction to purchase a 30% equity stake in
Alunorte S.A. ("Alunorte") and a 45% equity stake in Mineracão Rio do Norte S.A. ("MRN").

Glencore has become party to the Alunorte joint venture with Hydro and the other
minority shareholders, and become party to the MRN joint venture with South32 and Rio
Tinto. Glencore will not be the operator of either asset.

Glencore will have offtake rights for life of mine in respect of its pro rata share of the
production from both Alunorte and MRN.

Robin Scheiner, Head of Alumina and Aluminium, Glencore, commented:

"We look forward to working with our new joint venture partners and the respective
management teams at these world class assets."

For further information please contact:

 Investors
 Martin Fewings              t: +41 41 709 28 80   m: +41 79 737 56 42   martin.fewings@glencore.com

 Media
 Charles Watenphul           t: +41 41 709 24 62   m: +41 79 904 33 20   charles.watenphul@glencore.com


www.glencore.com

Glencore LEI: 2138002658CPO9NBH955

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 60 commodities that advance everyday life. Through a network of assets,
customers and suppliers that spans the globe, we produce, process, recycle, source, market and distribute
the commodities that support decarbonisation while meeting the energy needs of today.

With around 140,000 employees and contractors and a strong footprint in over 35 countries in both
established and emerging regions for natural resources, our marketing and industrial activities are
supported by a global network of more than 40 offices.

Glencore's customers are industrial consumers, such as those in the automotive, steel, power generation,
battery manufacturing and oil sectors. We also provide financing, logistics and other services to producers
and consumers of commodities.

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.

We recognise our responsibility to contribute to the global effort to achieve the goals of the Paris
Agreement by decarbonising our own operational footprint. We believe that we should take a holistic
approach and have considered our commitment through the lens of our global industrial emissions. Against
a 2019 baseline, we are committed to reducing our Scope 1, 2 and 3 industrial emissions by 15% by the end of
2026, 50% by the end of 2035 and we have an ambition to achieve net zero industrial emissions by the end of
2050. For more detail see our 2022 Climate Report on the publication page of our website at
glencore.com/publications.

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Disclaimer
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.


Sponsor
Absa Corporate and Investment Bank, a division of Absa Bank Limited

Date: 04-12-2023 07:30:00
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