Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

GFG Alliance’s chief executive officer, Sanjeev Gupta has agreed to a deal with commodity trader and miner, Glencore for refinancing the group’s aluminum unit.


Glencore will grant a loan to clear the majority of the debt of its Dunkirk smelter and Duffel factory, according to media reports, which is repayable over a six-year period. Glencore will also aid in the hedging and marketing of the unit’s aluminum products as well as, along with Trafigura Group, fulfilling the raw material needs of the two plants. 


The confirmation follows reports on Jul 6 regarding the GFG-Glencore deal. This deal is the first for Gary Nagle, Glencore’s chief executive officer since he took over the company’s operations last week. 

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