Save for later Print Download Share LinkedIn Twitter Switzerland-based commodities giant Glencore says its trading division is on course for another bumper year, with earnings expected to surpass the upper end of its guidance range of $2.2 billion-$3.2 billion. That's good news for Glencore's new CEO, Gary Nagle, who replaced his long-serving fellow South African Ivan Glasenberg this summer. Nagle — the former head of the London-listed company's coal trading business — is positioning Glencore to play a significant role in the energy transition. Glencore is one of the world's largest marketers of cobalt, a key ingredient in batteries. It recently formed an alliance with Britishvolt, a fledgling UK manufacturer of batteries for electric vehicles. The company also struck up a partnership with China's Huaneng Group to pursue carbon capture and storage projects in the Russian Far East and Australasia. Glencore trades around 2.5 million b/d of crude oil and refined oil products, as well as over 10 million tons/yr of LNG.
