Glencore to close Singapore coal desk, consolidate Australian operations
Glencore will be closing its Singapore coal sales desk in favour of consolidating its Australian business, the company confirmed on Friday.
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In its submission to an Australian senate hearing, the world's largest exporter of thermal coal said it was integrating the operations of Xstrata’s coal sales and marketing hub in Singapore with its global coal trading hub in Australia.
Glencore acquired Xstrata in 2013 after a protracted takeover bid.
"Following Glencore's acquisition of Xstrata we have integrated Xstrata's coal marketing business into Glencore's global coal marketing function. Australian coal sales will now be done directly from our Australian companies to end customers," the company said.