Glencore enters alumina supply and aluminium offtake agreements

Glencore has announced that it entered into a 10-year alumina supply and aluminium offtake agreements with Press Metal Bintulu Sdn. Bhd. (“Press Metal Bintulu”), one of the leading global producers of green aluminium. Press Metal Bintulu is an 80% subsidiary of Press Metal Aluminium Holdings Berhad (“Press Metal”), listed on the Main Market of the Malaysian stock exchange, Bursa Malaysia Securities Berhad (“Bursa Malaysia”).

Robin Scheiner, Head of Alumina and Aluminium, Glencore, commented: “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.”

Tan Sri Dato’ Paul Koon, CEO of Press Metal, commented: “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 recognises our efforts in sustainable and responsible production of low carbon aluminium. Press Metal endeavours to continuously produce low-carbon aluminium as our prime business strategy.”