Glencore plans a secondary listing of its shares on the ASX in October, aiming to broaden its shareholder base, improve trading liquidity, and enhance its corporate financial flexibility. The move comes nearly a year after the company abandoned plans to switch its main listing from London to New York, stating that despite the scale and depth of U.S. capital markets, a switch or a sponsored American depositary receipts program wouldn't offer better value for shareholders at that time. Glencore had also held failed talks with rival Rio Tinto about a potential tie-up that could have turned it into the world's biggest mining company and copper producer.

Rio Tinto is dual-listed in London and Sydney. Glencore said it intends to apply for the secondary listing and promised to keep its listing under review.