Q: Dear Pat: In view of the world’s increasing electrification, I would be grateful for your analysis of Glencore Xstrata. It mines several metals used in the production and transmission of electricity. Thanks again for your invaluable advice.
A: Glencore Xstrata plc Holdings (ADR), $4.99, symbol GLCNF on the U.S. over-the-counter market (ADRs outstanding: 14.4 billion; Market cap: $73.1 billion; www.glencore.com), is an Anglo–Swiss multinational commodity-trading and mining company headquartered in Baar, Switzerland. The business is officially registered in Saint Helier, Jersey, while the stock has its main listing on the London exchange under the symbol GLEN.
Glencore expects to report higher earnings this year. That’s because it believes production of electric vehicles will increase, boosting demand for batteries and its metals. They include copper, cobalt (of which Glencore is the world’s largest miner), zinc and nickel.
For example, vehicles with conventional internal-combustion engines typically contain about 20 kilograms of copper. For electric vehicles, the copper content is up to 80 kilograms, with increased quantities of cobalt, nickel and manganese.
Perhaps, even more important for Glencore is the increased demand for metals used in housing and infrastructure construction as well as the installation of power grids.
The company is the world’s fourth-largest…
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