On April 1, Li Wei, Party Secretary and Chairman of SDE, as well as Chairman of Yankuang Energy, held a discussion with Gary Nagle, CEO of Glencore, at Glencore’s headquarter in Baar, Switzerland. The two sides exchanged views on how to strengthen international cooperation in the energy sector.

Li Wei highly commended Glencore’s leading position in the global commodities sector and its contributions to resource integration, globalized trading network, and sustainable development. Regarding the jointly-operated HVO coal mine in Australia, both parties had an in-depth talk on enhancing its operation as a world-class coal asset. They also explored the ways for better collaboration in coal sales coordination, strategic mineral extraction, and high-quality M&As to address the challenges and opportunities arising from the global energy transition.

During the meeting, Li Wei and the Glencore team also communicated on the current coal market dynamics. Both sides desired to establish a regular senior-level dialogue mechanism and leverage their respective advantages in production capacity, logistics integration, Asia-Pacific market sales channels, and globalized trading networks. Through establishing joint ventures and boosting sales, they aim to realize the full-chain synergy of "resources-logistics-customer" , as a way to co-expand new opportunities in the global energy market.

The meeting was attended by Steven Kalmin, CFO of Glencore, and Su Zhaohui, Special Advisor to the CEO of Glencore Group for China Affairs.