Ivan Glasenberg Quotes
100 Ivan Glasenberg Quotes
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All these mining companies couldn’t move, they couldn’t acquire all these companies or the assets that were available at really distressed prices.
Ivan Glasenberg
You didn’t see much M&A activity occur during the crisis and the companies had a big opportunity that they missed.
Ivan Glasenberg
[In February 2012] I think most of the companies have learnt to stress test their balance sheets a lot more.
Ivan Glasenberg
We all look at scenarios - what if’s, if copper goes from $8,000 and goes down to $5,000 – $6,000. Aluminium goes from 2,400 down to 1,200 dollars how does your balance sheet look?
Ivan Glasenberg
[In February 2012 on future commodity demand] Demand is going to be strong in all commodities.
Ivan Glasenberg
[In February 2012] China’s consuming 50% of the world’s commodities.
Ivan Glasenberg
I don’t think anyone realises that to date China consumes 50% of the worlds commodities. Almost all the commodities from oil to aluminium from copper to zinc etc.
Ivan Glasenberg
If China’s GDP grows at 8-8.5% or whatever you imagine, that means the world has to produce 4% assuming that the rest of the world stays stable you’re assuming your not going to have any growth in America, Europe okay well it may not have much growth but that’s assuming even if there’s no growth in America that’s disregarding India, so you’ve got to produce 4% more commodities.
Ivan Glasenberg
Aluminium and nickel are the problem commodities. Why? There is a lot of supply and supply continues there.
Ivan Glasenberg
I think you’ve got to look against, across all the commodities demand is going to be strong no matter what. Where are we going to have restraints in supply? And each one will have a different timeframe.
Ivan Glasenberg
Different tax regime, royalty regime, different infrastructure problems so you’ve got to look at each country differently. Australia may have great infrastructure, good tax regime but they’ve as we saw last year they changed the tax.
Ivan Glasenberg
The mineral resource tax was increased, they changed the taxation on existing operations…that took everyone by surprise.
Ivan Glasenberg
We’ve been in Russia for a long time as a trader. It’s a key supplier of commodities for the world so we’ve got to be here.
Ivan Glasenberg
[On the future of Russia in 2012] I think they’ve got to make it inviting for foreign investors to come put ten – fifteen billion dollars into new operations and leave it to the government to develop the infrastructure – the rail, trucks, ports etc so we can do it so I think that is the future for Russia.
Ivan Glasenberg
Commodity trading companies have been generally private companies.
Ivan Glasenberg
[On unlisted commodity trading companies] And if they keep buying assets, it’s eventually when partners leave you’re going to run out of cash and you’ve going to have to sell assets and no-one wants to be in that position. So that is what I call a time bomb…
Ivan Glasenberg
I think long-term what has happened in the commodity markets now, most of the commodities have become a spot price.
Ivan Glasenberg
Everything is more and more becoming a spot pricing system.
Ivan Glasenberg
I think speculators create a market for a while, what I call the froth or whatever it is in the market but eventually the fundamentals prevail. Now how long the delay factor is, it varies in different commodities, at different times depending on demand and supply but long-term the fundamentals of demand/supply rule.
Ivan Glasenberg
Eventually the fundamentals prevail if people produce too much aluminium, copper, zinc…
Ivan Glasenberg
[In February 2012] Of course that’s a risk. If China fails and China doesn’t grow at 8, 8.5, 9% which everyone expects and it grows at a much slower rate…
Ivan Glasenberg
The consumption per capita or commodity in China is way below the western world.
Ivan Glasenberg
India is following close on and starting to pick up on China.
Ivan Glasenberg
[In February 2012] Of course we’ve all got to watch for the hard landing in China…
Ivan Glasenberg
[In February 2012] China’s got a long way to go.
Ivan Glasenberg
We asked about ‘Where are the concerns about China, what factors do we have to watch?’ and the two things he said were ‘Number one is the weather… The other thing we’ve got to watch in China is Iran.’
Ivan Glasenberg
[On running a listed company] It has it’s negatives, as you correctly say you’ve got to deal with the press, you’ve got to answer to analysts. Your results are well known so you do have the volatility of a share price based on your results.
Ivan Glasenberg
[On running a listed company] you have paper which you can use to acquire – to grow the company, you can raise money.
Ivan Glasenberg
Many people may say that luck is important, but I think you create your own luck by working hard to ensure you don’t miss opportunities.
Ivan Glasenberg
At least in the Congo they need you, they want you there and if they start changing the rules on you, you may not continue investing.
Ivan Glasenberg
So Australia does have its risk, yes. We saw the carbon tax, we saw the mineral resource tax.
Ivan Glasenberg
[In September 2012] It is a First World Country but is doing things that are making people cautious of investing, so Australia is becoming another country where you have got to make sure that the rules aren’t going to change on you.
Ivan Glasenberg
So, I have got to say Mrs Gillard made our life easy, because we could say: Look, Australia just wanted to nationalise 30 percent of their mines [with] a mineral resources tax!
Ivan Glasenberg
We’d be happy to work with aid organizations.
Ivan Glasenberg
We’re convinced that we’re doing good in the countries where we’re active.
Ivan Glasenberg
I don’t understand how resource nationalisation can come into this debate in Africa.
Ivan Glasenberg
To develop Africa for the future… Africa needs a large amount of money. We know Africa is rich in it’s resources, extremely rich in it’s resources. All countries in Africa… I think all countries in Africa are now competing for the funds from us – the outside community. The governments within Africa just do not have the funds to even try to nationalise it and develop these assets. If they nationalise it where’s the funds going to come from to develop it?
Ivan Glasenberg
Us as foreign investors are struggling to get loans to invest in certain parts of Africa, so we’ve got to use our own equity and own funding. I just don’t see how governments can do it.
Ivan Glasenberg
These are not small projects. Africa needs massive logistics, needs massive rail, needs power…
Ivan Glasenberg
The size, the amount of money that has to be invested in these mines, you’re talking billions and billions of dollars. Our company alone if I just talk about two countries in Africa that’s on the top of everyone’s radar screen today with high copper prices are in the coal in the Democratic Republic of the Congo and in Zambia. And us alone I think we put $4 billion dollars into these two countries and continue, and that’s just for the mines, excluding infrastructure. There’s a shortage of power in the Congo, we need to upgrade the substations, and we need ourselves some private investors to assist us on this and we’ve got to do certain agreements in Africa, to get take or pay agreements with other private investors.
Ivan Glasenberg
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