{"id":39401,"date":"2026-08-18T10:05:36","date_gmt":"2026-08-18T06:05:36","guid":{"rendered":"https:\/\/gbc1.net\/?p=39401"},"modified":"2026-08-23T10:31:50","modified_gmt":"2026-08-23T06:31:50","slug":"south-korea-lends-glencore-1b-to-secure-copper-supply","status":"publish","type":"post","link":"https:\/\/gbc1.net\/index.php\/2026\/08\/18\/south-korea-lends-glencore-1b-to-secure-copper-supply\/","title":{"rendered":"South Korea Lends Glencore $1B to Secure Copper Supply"},"content":{"rendered":"\n<p>On 17 August 2026, the South Korea Export-Import Bank (SKEXIM) and Glencore announced that they had come to an agreement, whereby the credit agency would provide a loan of USD one billion to Glencore, while Glencore would supply South Korea with <a href=\"https:\/\/gbc1.net\/index.php\/tag\/copper\/\">#copper<\/a>.<\/p>\n\n\n\n<p>The Switzerland-based Glencore is one of the largest copper miners and commodity traders in the world. It operates some of the world&#8217;s largest copper mines in the Democratic Republic of Congo, Chile, and Peru. During 1H26, Glencore produced 397,000 tonnes of copper, up 15% from 1H25. Africa accounted for nearly 35% of its global output.<\/p>\n\n\n\n<blockquote class=\"wp-block-quote\">\n<p>&#8220;Through this financing and our partnership with a company that has established a unique position in the global commodities market, we will be able to secure a stable supply of <a href=\"https:\/\/gbc1.net\/index.php\/tag\/criticalminerals\/\">#CriticalMinerals<\/a> for Korea&#8217;s advanced-industry supply chains. This financing is significant as a proactive economic security measure.&#8221;<\/p>\n<cite>SKEXIM Sposkersperson<\/cite><\/blockquote>\n\n\n\n<p>It was not immediately made clear to what use Glencore will put the money to. In February 2026, Glencore provided Orion Minerals with a prepayment facility of USD 250 million to secure a share of its future production from its copper-zinc project in Prieska, South Africa.<\/p>\n\n\n\n<p>South Korea has an 8% share of the global auto market with household brands such as Hyundai and Kia. Hyundai is the world&#8217;s 3rd largest automaker, behind Toyota and Volkswagen. As Electric Vehicles (<a href=\"https:\/\/gbc1.net\/index.php\/tag\/ev\/\">#EV<\/a>) need huge amounts of copper, a secure supply of this Critical Metal is essential to the development of the industry.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On 17 August 2026, the South Korea Export-Import Bank (SKEXIM) and Glencore announced that they had come to an agreement,<\/p>\n","protected":false},"author":1,"featured_media":39405,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_mi_skip_tracking":false,"_EventAllDay":false,"_EventTimezone":"","_EventStartDate":"","_EventEndDate":"","_EventStartDateUTC":"","_EventEndDateUTC":"","_EventShowMap":false,"_EventShowMapLink":false,"_EventURL":"","_EventCost":"","_EventCostDescription":"","_EventCurrencySymbol":"","_EventCurrencyCode":"","_EventCurrencyPosition":"","_EventDateTimeSeparator":"","_EventTimeRangeSeparator":"","_EventOrganizerID":[],"_EventVenueID":0,"_OrganizerEmail":"","_OrganizerPhone":"","_OrganizerWebsite":"","_VenueAddress":"","_VenueCity":"","_VenueCountry":"","_VenueProvince":"","_VenueZip":"","_VenuePhone":"","_VenueURL":"","_VenueStateProvince":"","_VenueLat":"","_VenueLng":""},"categories":[13],"tags":[569,147,49],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.12 - 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