https://www.miningweekly.com
Export-Import Bank Of Korea|Glencore|South Korea|Switzerland|Copper|Critical Minerals|Renewable Energy|Artificial Intelligence
|||
export-import-bank-of-korea|glencore|south-korea|switzerland|copper|critical-minerals|renewable-energy|artificial-intelligence

Korea Eximbank to lend $1bn to Glencore for copper supply

Glencore copper shipment

Glencore copper shipment

17th August 2026

By: Bloomberg

  

Font size: - +

Export-Import Bank of Korea will lend $1-billion to commodities giant Glencore in exchange for copper supply to South Korean companies, as the country seeks to secure raw materials needed for the artificial intelligence boom.

The loan will be provided to Switzerland-based Glencore International AG, a wholly-owned subsidiary of Glencore, and the proceeds will be used for general working capital, the State-run Korean lender said in a statement on Monday. The bank said Glencore has agreed to supply copper to Korean companies during the loan period, without providing details.

South Korea is reliant on imports of the industrial material, which is used in power grids, data centers and for renewable energy equipment. The AI data boom and rising electricity demand has boosted demand for copper, which has jumped around 15% this year and is near a record high.

“Through this financing and our partnership with a company that has established a unique position in the global commodities market, we will be able to secure a stable supply of key materials for Korea’s advanced-industry supply chains,” an Eximbank official said in the statement, describing the move as “preemptive” from an economic-security perspective.

Glencore, one of the world’s biggest copper miners and commodity traders, didn’t immediately respond to a request for comment outside of regular business hours.

Edited by Bloomberg

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Stewarts & Lloyds
Stewarts & Lloyds

Stewarts & Lloyds is a leading steel, tube, and engineering product supplier in South Africa.

VISIT SHOWROOM 
Essentra Components
Essentra Components

We are responsible manufacturers of essential components. Manufacturing 80 million parts a week, we have over 1 billion parts in stock.

VISIT SHOWROOM 

Latest Multimedia

sponsored by

ARM CEO Phillip Tobias.
ARM headline earnings up 19%, dividend declared
4th September 2026 By: Martin Creamer
Photo of Martin Creamer
On-The-Air (04/09/2026)
4th September 2026 By: Martin Creamer

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.066 0.089s - 132pq - 2rq
Subscribe Now