Assessing the Value of Glencore's Investments Ahead of Its IPO

Glencore International Plc Chief Executive Officer Ivan Glasenberg criticized his recently departed mining CEO peers for swamping the industry with new mines that led to a surplus in metals and trimmed profits. “The big guys really screwed up,” Glasenberg, 56, told investors Monday in a presentation. “We’ve always been wanting to keep building and keep putting the cash which we generate into new assets. That’s what we’ve got to stop doing as a mining industry. We’ve got to learn about demand and supply.”

Glencore International Plc (GLCNF.PK) Q4 2012 Earnings Call March 5, 2013 4:30 AM ET Executives Paul Smith – IR Ivan Glasenberg – CEO Steve Kalmin – CFO Aristotelis Mistakidis – Director, Zinc/Copper/Lead Commodity Chris Mahoney – Director, Agricultural Products Tor Peterson – Director, Coal/Coke Commodity Analysts Liam Fitzpatrick – Credit Suisse

By Hard Assets Investor: Last week, Glencore (GLCNF.PK) announced it was making a $6.1 billion bid for Canadian grain handler Viterra. The transaction is designed to add more grain and agriculture operations to Glencore, the world’s largest publicly traded commodity trader.

Ivan Glasenberg, CEO of commodities trading giant Glencore , not only joins our list for the first time but does so in style, landing the No. 2 spot with a net worth of $7.2 billion, thanks to Glencore?s IPO in May, which valued the company at $59 billion. The 55-year-old Johannesburg native started at s ...