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Glencore to sell struggling copper refinery to Filipino billionaire, Bloomberg News reports

Published by Global Banking & Finance Review

Posted on July 8, 2025

1 min read

· Last updated: January 23, 2026

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Glencore to sell struggling copper refinery to Filipino billionaire, Bloomberg News reports
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(Reuters) -Britain's Glencore has agreed to sell its struggling copper refinery in the Philippines to the Villar family, headed by real estate billionaire Manny Villar Jr., Bloomberg News reported on

Glencore Sells Copper Refinery in the Philippines to Manny Villar

(Reuters) -Britain's Glencore has agreed to sell its struggling copper refinery in the Philippines to the Villar family, headed by real estate billionaire Manny Villar Jr., Bloomberg News reported on Tuesday, citing people familiar with the matter.

The commodities trading firm had already put its Philippine Associated Smelting and Refining Corp, or Pasar, on care and maintenance earlier this year amid a severe pricing crisis.

The Bloomberg report did not disclose a valuation for the deal.

Glencore declined to comment and the Villar family did not respond to a request for comment.

(Reporting by Yamini Kalia and Prerna Bedi in Bengaluru; Editing by Sonia Cheema)

Key Takeaways

  • Glencore sells its copper refinery in the Philippines.
  • The buyer is the Villar family, led by Manny Villar Jr.
  • Pasar was put on care and maintenance earlier this year.
  • The sale comes amid a severe pricing crisis.
  • No valuation for the deal was disclosed.

Frequently Asked Questions

Who is buying Glencore's copper refinery?
The Villar family, led by real estate billionaire Manny Villar Jr., is buying Glencore's copper refinery.
What is the current status of the Pasar refinery?
Glencore had placed the Philippine Associated Smelting and Refining Corp, or Pasar, on care and maintenance earlier this year due to a severe pricing crisis.
Was the valuation of the deal disclosed?
No, the Bloomberg report did not disclose a valuation for the deal.
Did Glencore or the Villar family comment on the sale?
Glencore declined to comment on the sale, and the Villar family did not respond to a request for comment.

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