Chief Executive Officer, Glencore
Search every verified Gary Nagle interview, podcast appearance, and on-the-record quote — each transcript cross-checked by AI and human review to confirm speaker identity. Gary Nagle, CEO of Glencore, stated at the Swiss Economic Forum in July 2023 that the world lacks sufficient green minerals to successfully achieve the energy and mobility transition. He noted that while metals exist, they are often in difficult jurisdictions and take time to permit. Nagle also said that fossil fuels still provide 81% of the world's energy, a figure he contrasted with 82% 23-24 years ago, and argued that decarbonization does not happen overnight. He reiterated Glencore's commitment to reducing its coal production by 50% from 2019 levels by 2035 and achieving net zero by 2050, while continuing to supply coal to developing nations. In February 2025, Nagle described 2024 as a strong operational year, highlighting the simplification of Glencore's portfolio through the closure or disposal of over 20 assets. He emphasized the company's focus on long-life, low-cost assets and organic growth in copper, noting nearly 20 billion tons of measured, indicated, and inferred copper resources. Nagle also discussed share buybacks, describing them as "taking our company private by stealth" and stating that Glencore would continue buying back stock if it trades at a discount. He mentioned innovative approaches to de-risk the greenfield El Pachón copper project, potentially bringing it forward in the project sequence.
“Without us, there is no Tesla. It's as simple as that. Without us, there's no Volkswagen. They need our commodities and we are the procurement arm of those businesses.”
“I started in this industry 23 24 years ago and in the entire world energy use in the world now that's not just electricity that's mobility that's power whatever you want to call it fossil fuels provided 82% of the world's energy 23 24 years ago we now fast forward we've spent trillions of dollars on renewables we're al...”
“the best thing about buying back our own stock is we are front running that rate so the more BuyBacks we do the better today we announced a billion dollars we're a cash generative business by the 6th of August this buyback will be done there may be a new buy back coming in August again if our stock continues to trade w...”
“we've decided to think a little bit out of the box we got a whole bunch of new different ideas where we can massively drisk this project massively drisk the development of this project so much so that to the extent that we want we may we had always sequenced this towards the back end of our projects because of the Gree...”
“We've got the business into a position where we have tier one long life terrific assets in the right commodities, we have the world's largest and best marketing business, and we have a growing and very profitable recycling business which sets up our company to be the go-to commodities business in the world as we go for...”
“We chose New York specifically for the coal company because we don't believe that the ESG criteria needed from investors on the London Stock Exchange will be met by a coal company... American investors in my view seem to take a more pragmatic approach towards it where they want the yield provided that is done responsib...”
Gary Nagle am Swiss Economic Forum (SEF) 2023.
JOHANNESBURG (miningweekly.com) – Operationally, 2024 was a strong year for Glencore, CEO Gary Nagle highlighted on ...
We welcome Gary Nagle in his role as Glencore’s new Chief Executive Officer. He succeeds Ivan Glasenberg, who has led the company over the past 19 years, growing and transforming it from a commodity trading business into one of the world’s largest globally diversified natural resource companies. Joining Glencore in 2000, Gary has worked across the marketing and industrial businesses in Australia, Colombia, South Africa and Switzerland. Watch the video below to learn more. https://www.glencore.com/media-and-in...
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